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December 22, 1978 - Image 17

Resource type:
Text
Publication:
The Detroit Jewish News, 1978-12-22

Disclaimer: Computer generated plain text may have errors. Read more about this.

THE DETROIT JEWISH NEWS

Friday, December 22, 1918 11

For people who suffer from taxaphobia:

* (lack of tax deductions)

5 WAYS
TO GET TAX
RELIEF

If Your Employer
Doesn't Offer A Plan

If you're not covered by an employer-
sponsored retirement plan you could be
eligible for an Individual Retirement
Account. With an I.R.A., you can save up to
S1,500 or 15% of annual income, whichever
is less, and take that as an income-tax
deduction. As an employed I.R.A. partici-
pant with a non-working spouse, you could
set aside even more under a Spousal I.R.A.
This plan lets you save up to 51,750 or
15% of income whichever is less.

If Your Plan Is Cancelled
Or You Change Jobs

When you change jobs or your retirement
plan is cancelled and you receive a lump-
sum distribution, you could take advantage
ofa Rollover I.R.A. A Rollover Individual
Retirement Account allows you to shelter a
retirement plan distribution from taxes
until you're ready for retirement. Plus you
can earn tax-deferred interest on the funds
until you retire.

No other financial institution
currently provides more ways to get
tax relief while you're planning for
retirement than Metropolitan Savings. Depending
on your situation, there are five different plans to suit
your needs. That's why retirement planning has never
been easier, nor a better investment. The Retirement
Plan Professionals at Metropolitan will show you how
you can shelter your current income taxes and build a
tax-sheltered pension fund at the same time.
'Metropolitan's plans ale currently paying a healthy
8% annual interest with a minimum deposit of $100 and
a 3 to 10 year maturity. With quarterly compounding,
your annual yield is 8.24%. No matter which plan
you choose, you'll benefit from the tax shelter, and
you'll benefit later, when you're enjoying your retire-
ment income. If you are self-employed or are not covered
by a company pension plan, come to the people who
have more prescriptions for taxaphobia than anyone else:
Metropolitan Savings.



If You're Self - Employed

Keogh is the tax-deferred retirement plan
for self-employed individuals. It enables you
to set aside up to 57,500 or 15% of your
annual income, whichever isless, and
take that amount as an income-tax deduction.
Both contributions made and interest earned
are tax-sheltered until retirement.

If You Want To
Predetermine Your Benefits

The New Super Keogh could help you
set aside even more than the 15% or 57,500
allowed under a regular Keogh plan.
Super Keogh allows your annual retirement
benefit to be predetermined and then
.
you deposit yearly to reach that goal.
How much you set aside annually depends
on such factors as your age and income.

If You're Ready To
Offer Employees A Plan

With an Employer-Sponsored Individual
Retirement Plan you could start a tax-
sheltered retirement program for employees.
You can elect to cover all employees or
just a few, with varying benefits depending
on your personal guidelines. Call the
Retirement Plan Professionals for
more details.

METROPOLITAN

sAvinios

11 Convenient Offices

Federal regulations may require a substantial penalty for
early withdrawal of principal from Certificate Accounts.

MAIN OFFICE/FARMINGTON HILLS 31550 Northwestern/851-0708
UTICA 45676 Van Dyke Road/731-4500
DEARBORN 13007 West Warren/584-7650
BEVERLY HILLS-BIRMINGHAM 32800 Southfield/664-0440
OAK PARK-HUNTINGTON WOODS 25555 Coolidge/547-6400
SOUTHFIELD, TEL-TWELVE MALL 28658 Telegraph/358-4511
NORTHWEST DETROIT 19830 West Seven Mile Road/537-3400
DOWNTOWN DETROIT 139 Cadillac Square/963-7600
NORTHLAND 22180 Greenfield/968-3000
SHELBY 51111 Van Dvke Road/739-7200
AVON 2740 Rochester Road/852.6460
CENTRAL TELEPHONE NUMBER: 851-5300

Metropolitan Savings

P.O. tit, Sila. Farinm,ion.

Plea, .ont,t me lot

Plu>y

Member 1-S1.IC.

• f,

.end rile more

I ',mid Lc intere•red

Helping You Build A Brighter Tomorrow

16

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e, I would hire more intormation on monr Retirement

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