apartmentof the @ Sanice nternal Revenu Your name a 4998, vANning _—— cam | Occupation enses we! 10 which eap ot NY. y id | ” RE \ TU Aureus AVE new It’s Never A Bad Time To Open An IRA (NAPS)—Itis said that there is nothing more certain in life than death and taxes. How true that statement rings as each tax sea- son rolls by like sand through an hourglass. It’s a never-ending rit- ual each January as your employer, bank or other financial institution sends you the neces- sary documents to file your tax returns by the April filing dead- line. But did you know there is a way to reduce your taxes by sav- ing for retirement? It’s true. The federal govern- ment allows you to accomplish this goal with Individual Retire- ment Accounts (IRAs), which are a great way to invest funds for your retirement in addition to employer-provided retirement plans, such as a 401(k)s. It is possible to contribute as much as $2,000 a year to a Traditional or Roth IRA. With a Traditional IRA, you contribute to either a Traditional or Roth IRA for tax year 2000. It may also be a good idea to con- tribute to a 2001 IRA at the same time to start reaping the benefits of compounding interest and potential earnings sooner. If you are leaving or haveleft a job with fundsin a 401(k) or simi- maybe able to deduct all or part lar type of retirement plan, you may want to consider moving that ing on your adjusted gross income and whether you, or in some cases IRA. For more complete information of your IRA contribution, depend- your spouse, participate in an employer-sponsored retirement plan. Even if you can’t deduct your contribution, earnings in a Traditional IRA grow on a taxdeferred basis. Contributions to a Roth IRA are made with after-tax dollars and are not deductible, but all withdrawals are federal tax-free after the account has been open for at least five years, and you are 59% orolder. You have until April 16, 2001 to moneyto whatis called a Rollover about IRAs, including charges and expenses, please call TIAA-CREF at 1-800-842-2776 (weekdays, 8am—1l1lpm ET or weekends, 9am—6pm ET)or visit www.tiaacref.org/iras on the Web for prospectuses for the CREF and TIAA Real Estate Account vari- able annuities. Read them carefully before investing. The CREF and TIAA Real Estate Account variable annuities are distributed by TIAA-CREF Individual and Institutional Services.
