March 13, 2020
AAFMAA Wealth Management & Trust
IRAs are special retirement savings accounts for individuals — so they are not associated with an employer sponsored retirement plan such as a pension plan or 401k. There are two basic types of IRAs — Traditional and Roth IRAs. “The primary difference between the two is how income taxes are treated on annual contributions and distributions or withdrawals,” explains John Sledgianowski, a Relationship Manager with AAFMAA Wealth Management & Trust LLC (AWM&T).
Find out how IRAs work, and more, in the AAFMAA Learning Hub.
Information provided by AAFMAA Wealth Management & Trust LLC is not intended to be tax or legal advice. Nothing contained in this communication should be interpreted as such. We encourage you to seek guidance from your tax or legal advisor. Past performance does not guarantee future results.
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