THE DETROIT JEWISH NEWS
Friday, December 9, 1977 3
• 'and 'Her s'
If you've been saving for retirement in an
IRA Plan, or if you are eligible to do so,
here's good news. The government will allow
you to shelter more income from current
. taxes while providing your unemployed
spouse with his or her own personal
Until now you could contribute only 15% of
your own working income, not to exceed
$1,500 a year. But the law's new, more
liberal provisions raise that limit to $1,750,
to be divided into matching "His" and "Hers"
IRA accounts of $875 each. That's $250 more
tax sheltered saving power every year,
and the security of knowing yOu each have a
retirement plan of your own.
Of course you can contribute less than the
maximum as long as your contribution covers
both plans equally. The government also
stipulates that both of you must be under
701/ years of age, -and that the non-
contributing spouse receive no income from
employment or self-employment.
We'd like to tell you more about it and help
you plan your future together in the area we
know best — savings. We'll explain the
benefits you'll share and start your "His" and
"Hers" IRA plans at the highest rate on
insured savings in Michigan: 7-3/4 percent in
a 3-year certificate savings account with new
"add-on", provisions you'll find only at
American Federal Savings.
For more information mail coupon today
or phone 354-1300.
Federal regulations require a substantial interest
penalty for early withdrawal from certificate
*Individual Retirement Account
American Federal Savings
24700 Northwestern Highway
Southfield, Michigan 48075
The new "His" and "Hers" IRA Plans
sound interesting. Tell me more.
At the present time I
❑ do not have an IRA plan.
amencan federal savings
because a bank isn't enough. • -
DETROIT • EAST DETROIT • CLAWSON • OAK PARK • SOUTHFIELD • BIRMINGHAM - BLOOMFIELD TWP. • FARMINGTON HILLS • WARREN - STERLING HIS.
Member Federal Home Loan Bank System • Your savings are insured up to $40,000 by the Federal Savings & Loan Insurance Corporation