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March 23, 1979 - Image 17

Resource type:
Text
Publication:
The Detroit Jewish News, 1979-03-23

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

THE DETROIT JEWISH NEWS

Friday, March 23, 1919 11

Your Mme Is

Open a
Tax-Deferred
Individual
Retirement
Account

You still have time to get an extra tax deduction
for 1978 while you start building a pension plan
for the future. If you're not covered by an
employer-sponsored retirement plan, you could
be eligible to open an Individual Retirement
Account at Metropolitan Savings and take your
contribution as a 1978 income-tax deduction.
With an I.R.A., you can save up to $1,500 or 15%
of annual income, whichever is less, and take
that as an income-tax deduction. As an em-
ployed I.R.A. participant with a non-working
spouse, you could set aside even more under a
Spousal I.R.A. This plan lets you save up to
$1,750 or 15% of income, whichever is less.
You could also save on '78 taxes if you
changed jobs or your retirement plan was can-
celled, and you receive a lump-sum distribu-
tion. If you don't act within 60 days of receipt of
the funds, you'll be taxed on the total, but not if
you take advantage of Metropolitan's Rollover
I.R.A. A Rollover Individual Retirement
Account allows you to shelter all or
part of the retirement plan distribu-
tion from taxes until you're ready
for retirement. Plus your earn-
ings are tax-deferred until you
withdraw funds at retirement.
Metropolitan's Retirement Ac-
counts are currently paying a
healthy 8% annual interest with a
minimum deposit of $100 and a 3 to 10
year maturity. With quarterly compound-
ing, your annual yield is 8.24%. Call the retire-
ment plan professionals today to find out how
you can get relief from'78 taxaphobia.

Deposits in tax-deferred retirement accounts are insured
to $100.000 by the Federal Savings and Loan Insurance Corporation.
Federal regulations may require a substantial interest penalty
for early withdrawal of principal from Certificate Accounts.

• •

METROPOLITAN SAVINGS

11 Convenient Offices
Member FSLIC
MAIN OFFICE/FARMINGTON HILLS 31550 Northwestern/851-0708
UTICA 45676 Van Dyke Road/731-4500 ■ DEARBORN 13007 West Warren/584-7650
BEVERLY HILLS-BIRMINGHAM 32300 Southfield/664-0440 ■ OAK PARK-HUNTINGTON WOODS 25555 Coolidge/547-6400
SOUTHFIELD, TEL-TWELVE MALL 28658 Telegraph/358-451 1 ■ NORTHWEST DETROIT 19830 West Seven Mile Road/537-3400
DOWNTOWN DETROIT 139 -Cadillac Square/963-7600 ■ NORTHLAND 22180 Greenfield/968-3000
SHELBY 51111 Van Dyke Road/739-7200 ■ AVON 2740 Rochester Road/852-6460
-
CENTRAL TELEPHONE NUMBER: 851 5300

-

Helping You Build A , BrigliterThrneitovv,

9pery All-pay SatnyclayS:(Ocept:Dolvtitown Detroit) --.

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