Traditional IRA

What is a Traditional IRA?
With a Traditional IRA, contributions are tax deductible (for most people) and only subject to income taxes at the time of withdrawal. The main advantage of a Traditional IRA (compared to a Roth IRA), is that you may be able to save on your taxes today by deferring those taxes until retirement.

Is a Traditional IRA right for you?
A Traditional IRA may be a good option for you if:

  • You think you might be in a lower tax bracket during retirement
  • You may need money before age 59½

Roth or Traditional. Which one is right for you?

What are the advantages of a Traditional IRA?

  • Potential tax-deductible contributions
  • Potential tax-deferred growth

Who can contribute to a Traditional IRA?
Anyone with earned income who is under the age 70½ can make after-tax (nondeductible) contributions to a Traditional IRA. However, to qualify for a deduction of your contributions on your federal tax return, certain income requirements apply.

Get started
Open a TIAA-CREF Traditional IRA

The tax information contained herein is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed herein. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

© 2014 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017