Traditional IRAs

If you’re under age 70½, and have earned income, in 2009 you can contribute up to $5,000 to a Traditional IRA* ($6,000 if you are over age 50). Your contribution is tax deductible depending upon:

• Your income (Modified AGI).
• Your tax filing status (single or married).
• Whether or not you’re covered by an employer-sponsored retirement plan (e.g. 401k).

If you’re single, contributions are deductible as follows:

Employer Retirement Plan?	Modified AGI (2009)	Tax Deduction
No	Any Amount	Full
Yes	Under $55,000	Full
	$55,000 to $64,999	Partial
	$65,000 or more	None

If you’re married, contributions are deductible as follows:

Employer Retirement Plan?	Modified AGI (2009)	Tax Deduction
No, neither spouse	Any Amount	Full
Yes, both spouses covered	Under $89,000	Full
	$89,000 to $109,000	Partial
	$109,000 or more	None
Yes, one spouse covered; contribution for covered spouse	Under $89,000	Full
	$89,000 to $109,000	Partial
	$109,000 or more	None
Yes, one spouse covered; contribution for non-covered spouse	Under $166,000	Full
	$166,000 to $176,000	Partial
	$176,000 or more	None

* Erie Family Life products are not available in New York.

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