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At The
Florida Annuity Store, we guarantee...."Every
morning when you wake up, you're worth more than you were the night
before."
THE
FLORIDA ANNUITY STORE ROTH TAX-EXEMPT PLAN
Don't
pay federal taxes on accumulations...Build capital with a Florida Annuity
Store Roth Tax-Exempt Plan!
The Florida
Annuity Store Roth TAX-EXEMPT Plan is designed to take advantage
of the provisions of the federal tax act that became effective January
1, 1998. It allows people to put up to $2,000 of their income annually
into an IRA, hold it for five years, and never pay any federal taxes
on the money that's earned.
If money is withdrawn
from the certificate prior to age 59 1/2, there will not be any federal
penalties if the money is used for higher education or a first home
purchase, or due to death or disability. However, federal income taxes
may be imposed on amounts withdrawn used for higher education. In addition,
Gleaner will waive its early surrender charges on withdrawals made for
the above reasons AND withdrawals made to pay for nursing
home costs.
Participants of
403(b), 457 (other than a section 457(b) plan), SEP, SIMPLE plans, Qualified
Pension, Profit Sharing, Stock Bonus, Money Purchase (including Keogh
plans), 401(k) plans, etc..., qualify for an Annuity Store Roth TAX-EXEMPT
Plan. Certificate holders may contribute up to $2,000 a year for themselves,
and $2,000 a year for their spouses, as long as their combined income
does not exceed $150,000, regardless of how much they contribute to
an employer plan.
CAUTION:
An individual can contribute a maximum of $2,000 a year into all of
his/her traditional and Roth IRA plans combined.
a
FLEXIBLE
PREMIUM ANNUITY
featuring:
- TAX-EXEMPT
accumulations and withdrawal provisions for:
RETIREMENT
FIRST HOME
DEATH
DISABILITY
- HIGHER
EDUCATION: No federal excise tax penalties. Federal income
taxes will be imposed upon any accumulations withdrawn as a result of
the transaction. However, premiums are used first to offset withdrawals.
If the owner is at least 59 1/2 and had held the certificate five years,
any withdrawal is completely tax free.
- NO MAXIMUM
AGE for contributions provided that there is an earned income.
- Certificate holders
are not forced to start withdrawing money at age 70 1/2.
- Modified Adjusted
Gross Income limits to $150,000 for married couples (filing jointly),
$95,000 for singles and head of household. There are no income limitations
for those who do not participate in a pension plan.
- Contributions
of up to $2,000 per year, per individual, for all traditional and Roth
IRA plans combined.
- A two-percent
membership BONUS for one year and GUARANTEED minimum rate of accumulation.
NOTICE:
This document is intended to provide accurate information regarding
Roth IRA legislation. This document is not intended to provide, nor
is it intended to engage, in rendering of any legal, accounting or
other professional service. For legal advice or other assistance,
the Society recommends that a professional tax advisor be sought.
The
Florida Annuity Store Roth TAX-EXEMPT Plan
CONTRIBUTION:
Maximum annual premiums of up to $2,000 per person (not to exceed earned
income) for all traditional and Roth IRAs combined.
No maintenance
fees.
No sales or service charges.
No premium taxes.
100% of contributions credited to certificate.
AGE:
No age requirements as long as there is an earned income.
DISTRIBUTION:
No age requirements for distributions.
ACCUMULATION:
Designed to provide maximum safety at competitive rates.
- CURRENT
first-year rate is 5.05% (including a 1.55% membership
bonus)
- 3.50% CURRENT
BASE rate.
WAIVER OF
CHARGES:
Early surrender
charges will be WAIVED if withdrawals are used for:
- Death
- Disability
- Nursing
Home Costs
After five certificate
years, early surrender charges will be WAIVED if withdrawals
are used for:
- Higher
Education
- First
Home Purchase (up to $10,000)
These waivers are
in accordance with the Roth tax legislation. The normal early surrender
charge sequence is 10, 9, 8, 7, 6, 5, 4, 3, 2, 1%.
MEMBER BENEFITS:
Certificate holders receive all of the Society's member benefits including:
The Gleaner Loyalty
Bonus
The Fraternal Plus Benefit
Annuity Nursing Home Waiver
Scholarship Opportunities Orphan's Benefit
"The National Gleaner Forum" Magazine
The Harvest Card
Gleaner Family Picnics and Activities
RETURN
TO THE FLORIDA ANNUITY STORE
Contact TOM
SEAMON Today!
or call (561) 373-2777
for the right Annuity Package for you!
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