1 You’ll deduct your contributions on your tax returns; limits may apply.
2 Deductibility of contributions is dependent upon coverage by employer-sponsored retirement plan and your Adjusted Gross Income.
3 There may be some limits on tax deductibility if your spouse has a retirement plan at work.
4 Based on 2019 tax year.
5 Your account must be open for 5 years and you must be over age 59 1/2 to be eligible for qualified tax-free withdrawals.
This document is intended to be educational in nature and is not intended to be taken as a recommendation.
The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.
Financial professionals are sales representatives for the members of Principal Financial Group®. They do not represent, offer, or compare products and services of other financial services organizations.
Insurance products and plan administrative services provided through Principal Life Insurance Co. Securities offered through Principal Securities, Inc., 800-547-7754, member SIPC. Principal Life and Principal Securities are members of Principal Financial Group®, Des Moines, IA 50392.