ta*keoW1,,ST "Joining Hands To Touch Lives-Fraternalism for the Family and Our Nation"
Official Publication of The Slavonic Benevolent Order of the State of Texas, Founded 1897
Postmaster: Please Send Form 3579 to: SPJST Home Office, P. 0. Box 100, Temple, Texas 76503
January 5, 2000
ISSN-07458800
VOLUME 88 NUMBER 1
Roth IRA allows for tax-deferred earnings on retirement investments corn the :p up. `emeage, 'ditor and I.,,nie 0:67ce Stafj
Officers Howard Leshika:Leonard D. Mikeska Lanita Anglin Jerry Mikulas Sidney Kacir Directors Donnie Victorick Frank Klinkovsky Johnnie Krizan Stanley Broz Louis Hanus Matt S. Vanek Bob Bayer Editor Brian Vanicek
Ed Mokry Corinne Mauldin Peggy Sue Pancake Ann Paruzinski Dorothy Pechal Gene Reveile Mike Reveile William Rollwitz Barbara Rosenkranz Susan Shofner Katherine Morris Smith Dorothy Stuchly Dorothy Tomasek Doris Tyroch Larry Wagner Jim Wiest Melanie Zavodny
Q. What is a Roth IRA? A. The Roth IRA is the op-posite of the traditional deductible Individual Retirement Account. With a traditional deductible IRA, you may deduct contributions (within limits and only if you satisfy certain requirements), but all withdrawals are fully taxable. With a Roth IRA, you receive no up-front deduction for annual contributions. But, if you meet the tax law's rules, you may withdraw money from a Roth IRA tax free. In other
Home Office Staff Debbie Dohnalik Sandra Dubcak Daryl Entrop Susie Ernst Kathy Fritz Stephanie Herring Cynthia Hutka Diane Johnson Linda Johnson Jerry Kucera Donna Locke Trish Mathis Gene McBride Janna McNeil
SPJST Mortgage Interest Rates
Universal Life 6.75% for Annualized
Rates subject to change without notice
Effective 11-1-99 through 1-31-2000
Home or Farm Mortgages:
6.00% for Annualized
6.75% for 1 to 7 years 7.25% for 8 to 15 years 7.50% for 16 to 20 years 7.75% for 21 to 30 years
6.00% for Annualized
Qualified Owner-Operated Business Real Estate Mortgages 8.50% for 10 years 8.75% for 11 to 15 years
m I saving enough f r retirement?" is a question on the minds of ma y ziiese days. Unfortunately, for many Lnd:vidals, the answer is, "No." To encourage people to put money aside for the future, the government offers tax benefits to retirement savers. In 1997, lawmakers added yet another tax-advantaged way to invest for a financially secure retirement— the Roth IRA. And with the advent of this new savings vehicle come many questions—and planning opportunities. In this article. answers questions about Roth IRAs and explain the potential advantages these accounts offer. Once you learn more about the Roth IRA, you may want to contact your local lodge sales representatives about enrolling in a program that is right for you.
Roth IRA Effective 11-1-99 through 1-31-2000
Annuity II Certificates issued 4-1-93 and after Effective 11-1-99 through 1-31-2000
Annuity I 5.00% for Annualized Certificates issued prior to 4-1-93 Effective 11-1-99 through 1-31-2000
(Editor's Note: This article is intended to provide authoritative information about the subject matter covered. It does not, however, constitute tax, accounting, or legal advice. Before applying anything in this article to your personal situation, you should consult with your tax advisor The information in this article may or may not be applicable to you and you should only act in the context of your specific circumstances.)
Roth IRA Inc°
Full contribution with AGI* up to:
or of . use.liold
Marrf.ed Filing Jointly
$95,000
$150,000 (joint)
The amount of $95,000- $150,000 the contribution $110,000 $160,000 phases out if (joint) AGI * is between: No contribution is alowed if AGI* $110,000 equals or exceeds:
$160,000 (joint)
*Refers to AGI with specified modifica ons
words, you'll owe no tax on the account's investment earnings. Q. How much can be contributed to a Roth IRA each year? A. Eligible individuals may contribute up to $2,000 a year (or the amount of annual compensation, if it is less that $2,000). A married couple with joint earnings of at least $4,000 in a year many contribute as much as $2,000 to each of their Roth IRAs for that year, even if one of them does not earn income. Q. May I contribute both to a deductible IRA and a Roth IRA in the same year? A. If you are eligible to contribute to both types of IRAs, you may do so. However, contributions to all of your personal IRAs for a tax year cannot exceed $2,000. So, if you contribute $1,000 to a deductible IRA for the year, you may only contribute $1,000 to a Roth IRA for that same year. Q. Are there any age limits for contributing? A. No. A Roth IRA contribution can be made by a person of any age, as long as he/she is otherwise eligible. (Continued on page 3.)