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Retirement

Flexible retirement accounts that put you in control

We offer a variety of retirement accounts designed to meet your incorme and lifestyle needs. Learn about the different retirement accounts below, then open your account today.

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Retirement Account Types

Traditional IRA

A Traditional IRA may give you an immediate tax benefit because contributions are often tax deductible.With a Traditional IRA, up to $5,500 of tax-deferred earned income may be placed in the IRA until the account owner reaches 70½ years of age. Account owners may also contribute an additional $5,500 a year of earned income to a separate IRA for a non-income-earning spouse. Account owners who are age 50 or over are allowed to contribute an additional $1,000.

Taxable distributions from an IRA can be taken without penalty starting at age 59½ and must be started by April 1st of the year following the year the account owner reaches 70½.

Basic eligibility requirements

  • You must be under age 70½ by the end of the calendar year
  • You must have earned income or a spouse with qualified earned income
  • No income limits

Account Minimums and Fees:

  • There is no minimum initial deposit required to open an account
  • There are no maintenance fees for retirement account

 

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

Need help deciding between a Traditional IRA or a Roth IRA? Try our IRA Selection Tool

 

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Roth IRA

A Roth IRA’s tax advantages differ from the Traditional IRA. If eligible for this account, your annual contribution limits are the same but are not tax deductible. However, since annual contributions have already been taxed, these contributions will never be taxed again and earnings can grow tax free. Finally, the contributed funds can be withdrawn any time you wish and there are no required minimum distributions after age 70½.

Withdrawals

Withdrawals of your contributions to a Roth IRA are tax-free anytime. However, withdrawals of earnings are only free from federal income tax, provided they meet the following requirements:

  • You are purchasing your first home ($10,000 lifetime maximum)
  • The Roth IRA has been in existence for at least five years
  • You are age 59½ or older
  • You become disabled or have passed away

What You Should Know About Converting Costs

You can convert a Traditional IRA to a Roth IRA at any time. You must note that when you convert to a Roth IRA, you must pay income tax on the otherwise taxable amount of the transfer. To maximize the benefits of conversion, the money to pay those taxes should come from a source outside the Traditional IRA you are converting. You may convert your Traditional IRA over several years to manage the tax consequences.

Account Minimums and Fees:

  • There is no minimum initial deposit required to open an account
  • There are no maintenance fees for retirement accounts

 

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

Need help deciding between a Traditional IRA or a Roth IRA? Try our IRA Selection Tool or view our IRA guide to find out which IRA is right for you.

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Rollover IRA

Consolidate your retirement savings by rolling your old 401k over into one convenient, easy-to-monitor account. Our Rollover IRA process is fast and hassle-free. Rolling over assets from your old employer's plan into a TD Ameritrade IRA can help you better manage your portfolio and can provide access to a broad range of investments, while maintaining the tax-deferred status of your retirement assets.

A Rollover IRA is designed as a holding account for funds distributed from an employer's qualified retirement plan such as a 401k or 403(b). Moving funds into a Rollover IRA may allow the account owner to return the funds to another employer's qualified retirement plan in the future. To initiate a direct rollover from a qualified retirement plan, please contact your plan administrator.

Rolling over your old 401k into a TD Ameritrade IRA is free and there are no setup or maintenance fees. You'll also avoid costly cash distribution penalties and taxes if you were planning to cash out your accounts.

Account Minimums and Fees:

  • There is no minimum initial deposit required to open an account
  • There are no maintenance fees for retirement accounts

 

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

Need Help with Your IRA Rollover?

A Chartered Retirement Planning Counselorsm can:

  • Help with the rollover process from start to finish.
  • Contact your 401k administrator for you.
  • Call 800-213-4583 to schedule a phone consultation.

Explore your options and financial effects of different choices with our 401k Rollover tool.

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SEP IRA

A Simplified Employee Pension (SEP) IRA is for self-employed individuals and for use by small companies for qualified employees to receive employer contributions.

Key Features

  • Simple administration
  • No employer tax filing
  • No specific annual funding requirements
  • Flexible contributions

Eligibility Requirements for the Plan Sponsor

Employees must be age 21 or older, have earned at least $550 during the year and have worked three out of the five previous years. Employers may adopt less restrictive eligibility requirements so as not to exclude themselves from participating in the plan.

Set-Up and Funding

A SEP IRA must be established and funded prior to the employer's tax return due date, plus extension. Contributions can vary by year. All contributions are reported in the tax year received on tax form 5498.

Contributions

2015 tax year: 25% of employee’s compensation or $53,000, whichever is less.

Account Minimums and Fees:

  • There is no minimum initial deposit required to open an account
  • There are no maintenance fees for retirement accounts

 

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

A copy of the employer's SEP plan document (e.g., 5305-SEP Plan Document) must accompany the account application.

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Solo 401k (for small businesses)

An Solo 401k retirement plan offers the maximum retirement contribution (limits or levels) for self-employed individuals. This retirement plan has high contribution limits and flexible investment options.

The Solo 401k allows owners to make both employer and employee contributions, providing owners the ability to maximize their personal retirement contributions and their business deductions. Since there are no employees, there are no compliance testing requirements.

This is why an Solo 401k is most suitable for self-employed individuals or a business owner with no additional employees other than a spouse or a child. Consider this type of plan if your business has irregular profit patterns.

Key Benefits of Solo 401k Plans

  • Discretionary funding
  • Higher contribution limits
  • Greater control over withdrawal timing
  • Low administrative expenses

Eligibility Requirements for the Plan Sponsor

Eligible businesses include sole proprietorships, partnerships and incorporated businesses.

Set-Up and Funding

An Solo 401k must be established by the end of the employer's tax year and funded by the employer's tax return due date, plus extension. Contributions can vary by year.

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Simple IRA (Savings Incentive Match Plan for Employees)

A Simple IRA is a retirement program that is easy-to-administer and salary-deferred. It is for employees with an employer match option. Consider a SIMPLE IRA if your business has steady income and your employees want to make contributions to a retirement plan. Employers with 100 or fewer eligible employees who did not maintain another retirement plan are eligible to establish a SIMPLE IRA.

Contributions

Each eligible employee can decide whether or not to participate and how much to contribute. Employer contributions are mandatory. Employee contributions are optional. Employees may contribute up to 100% of compensation or a maximum of $12,500 for the 2015 tax year. Participants age 50 and over may contribute up to $15,500 for the 2015 tax year.

The employer matches employee salary contributions dollar-for-dollar of up to 3% of compensation (this can be reduced to 1% in any two out of five years), or makes a non-elective contribution of 2% of compensation for all eligible employees (including those who decide not to contribute for themselves). The compensation cap for determining employer contribution amounts is $265,000 for the 2015 tax year.

Withdrawals

Funds cannot be removed from the SIMPLE IRA until it has been established for at least two years. Withdrawals from a SIMPLE IRA after two years are still subject to federal income tax and/or a tax penalty.

Key Benefits of Individual 401k Plans

  • Simple administration and low administrative costs. No maintenance or account fees
  • No employer tax filings
  • No IRS contribution testing
  • Employees can make contributions
  • Does not limit eligibility or employee access to funds

Eligibility Requirements for the Plan Sponsor

This plan is generally suitable for businesses with 100 employees or fewer. It's usually available when other tax-favored plans are not permitted.

Set-Up and Funding

A SIMPLE IRA must be established prior to October 1. The employer contribution (match or non-elective) must be made by the employer's tax return due date, plus extension. All contributions are reported in the tax year received on tax form 5498.

A copy of the IRS Form 5305-SA, and either 5305-SIMPLE or 5304-SIMPLE, must accompany the account application. Employer contributions are tax-deductible.

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Pension or Profit Plan

Pension or Profit Plan accounts are tax-exempt trusts that can be set up by a company or self-employed individual for the purpose of retirement.

Examples of tax exempt trusts include:

  • 401k, Keogh
  • Profit Sharing Plans (PSP)
  • Money Purchase Pension Plans (MPP)
  • Defined Benefit Plan (DBP)
  • Defined Contribution Plan and Retirement Trust

Client Profiles

  • Cash, Cash and Margin, Cash and Option; Cash, Margin and Option

The Margin and Option approval on this account type is strictly specified in the Plan document provided by the Plan to TD Ameritrade.

Account Minimums and Fees:

  • There is no minimum initial deposit required to open an account. Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.
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