Unlock the Full Potential of Your Retirement Funds Through an IRA with PENSCO.
Get started now by choosing the right plan for you.
Plans for Individuals
The two most common types of individual retirement plans are Traditional and Roth IRAs. We’ve compared their features below to help you select the right plan for your situation.
|Traditional IRA||Roth IRA|
|Contributions||Generally tax deductible||Not tax deductible|
|Earnings||Generally grow tax-deferred but are taxed upon withdrawal||Generally grow tax-deferred and are not taxed upon withdrawal (after age 59 ½)|
|Income||No income limitations||Adjusted gross income (AGI) must be below certain limits|
|Distributions||Required starting at age 70½||Not required at any age for the original account owner.|
|Open a Traditional IRA||Open a Roth IRA|
To accommodate your unique needs, PENSCO also offers the following types of accounts:
- Inherited IRA
- Beneficiary IRA
- Custodial Account
- Coverdell Education Savings Account (ESA)
Plans for Small Businesses / Small Business Owners
Because PENSCO is committed to helping small businesses and small business owners reach their retirement investment objectives, we offer the following plans:
|SEP IRA||Solo(k)||Simple IRA|
|Eligibility||Sole proprietors and small businesses with up to 100 employees||Sole proprietors and small business owners with no full-time employees and their spouses||Sole proprietors and small businesses with up to 100 employees|
|Contributions||Generally employer contributions only; deductible as a business expense||Business owner can contribute as employer and employee; deductible as a business expense||Salary-deferral and employee-matching component; deductible as a business expense|
|Other Advantages||Relatively easy to set up and maintain||No income limits||Starter plan that encourages contributions from employees|
|Open a SEP IRA||To open a Solo(k), please download the Solo(k) form or call for assistance.||To open a SIMPLE IRA, please download the SIMPLE IRA form or call for assistance.|