Here is a quick-reference guide to the types of IRAs we have available here at EFCU:

ROTH IRA
Who can contribute?	How much can I contribute?	What is the tax advantage?
Anyone who has income from compensation (or who is filing jointly with a spouse who earns compensation) with the following MAGI^: up to $99,000 (single filers) and up to $156,000 (joint filers) Limited contributions allowed for higher incomes (up to $99,000 to $114,000 for single filers and $156,000 to $166,000 for joint filers)	$5,000 for 2008 for under age 50 $6,000 for 2008 for age 50 or older $5,000 + COLA* for 2009 for under age 50 $6,000 + COLA for 2009 for age 50 and over Cannot exceed compensation Reduced by contributions to traditional IRAs	Regular contributions can be withdrawn tax and penalty-free at any time After the account has been open five tax years, earnings can be withdrawn tax and penalty-free for any of these reasons: Age 59½ Disability Death First-time home purchase**

EDUCATION IRA+
Who can contribute?	How much can I contribute?	What is the tax advantage?
Anyone who has the following MAGI: up to $95,000 (single filer), up to $190,000 (joint filers) for 2002 People with higher MAGI may be able to make smaller contributions Contributions not allowed after the beneficiary reached age 18 (except contributions after age 18 allowed for special needs beneficiaries)	$2,000 per child Limit applied to all Education IRAs for the same child	Withdrawals for certain qualified education expenses are tax-free Special needs beneficiaries can withdraw funds tax-free to pay for qualified education expenses at any age Qualified education expenses may include tuition, fees, books, computer equipment and technology required for elementary, secondary and post-secondary education A beneficiary may receive tax-free distribution from an Education IRA in the same year he or she claims the Lifetime Learning or HOPE Scholarship tax credits.

TRADITIONAL IRA
Who can contribute?	How much can I contribute?	What is the tax advantage?
Anyone under age 70½ who has income from compensation (or who is filing jointly with a spouse who earns compensation)	$5,000 for 2008 for under age 50 $6,000 for 2008 for age 50 or older $5,000 + COLA for 2009 for under age 50 $6,000 + COLA for 2009 for age 50 and over Cannot exceed compensation Reduced by contributions to Roth IRAs	Earnings grow tax-deferred until withdrawn Contributions may be tax-deductible