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Traditional IRAs
Deductible Contributions
Traditional IRAs offer tax-deferred growth and contributions that may be tax-deductible. If neither
you nor your spouse participates in an employee-sponsored retirement plan, you can deduct the full
amount of your traditional IRA contribution regardless of your income. If you do participate in
an employer-sponsored plan, your traditional IRA contribution is deductible only if your adjusted
gross income falls within the following limits:
| 2003 |
Fully Deductible |
Partially Deductible |
| Single |
Up to $40,000 |
$40,000 to 50,000 |
| Married, filing jointly |
Up to $60,000 |
$60,000 to 70,000 |
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| 2004 |
Fully Deductible |
Partially Deductible |
| Single |
Up to $45,000 |
$45,000 to 55,000 |
| Married, filing jointly |
Up to $65,000 |
$65,000 to 75,000 |
Investors may contribute to both Traditional and Roth IRAs; however, the total contribution amount
for both accounts combined cannot exceed the maximum annual contribution limit.
Withdrawals
Traditional IRAs are tax-deferred, so you don’t pay taxes on the money you earn until you begin
to make withdrawals, typically at retirement when your tax bracket may be lower. You generally
cannot make withdrawals from a traditional IRA before age 59½ without paying the taxes due and
a 10% early withdrawal penalty. There are some exceptions. IRA savings can be withdrawn penalty-free for:
- The purchase of a first home
- To pay higher education expenses
- To cover some medical expenses
IRA savings may also be withdrawn penalty free in the case of death or disability.
If you’re planning to retire early, withdrawals may also be made penalty-free prior to age 59½
if you take a series of substantially equal periodic payments.
Investing in an Armada No Annual Fee IRA is easy. You can order an IRA kit, download a
Traditional IRA Application, or
you can invest online, right now.
  
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NOT FDIC INSURED · NO BANK GUARANTEE · MAY LOSE VALUE
You should consider the investment objectives, risks,
charges and expenses of the Armada Funds carefully before investing. A prospectus may be downloaded and viewed with
this and other information about the Funds or may be obtained by contacting an
investment professional or by calling 1-800-622-FUND (3863.) Please read it
carefully before you invest or send money.
National City Investment
Management Company (IMC) serves as investment adviser to Armada Funds for which
it receives an investment advisory fee. Shares of Armada Funds are distributed
by Professional Funds Distributor, LLC (PFD), 760 Moore Road, King of Prussia,
PA 19406. PFD is not affiliated with IMC and is not a bank.
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