• $116,000 or more for individuals
• $169,000 or more if married filing joint return
• $10,000 or more if married filing separately

Note: To be eligible to contribute $5,000 to a Roth IRA, the client cannot make a current year contribution to a traditional IRA. Clients who are eligible for both a traditional IRA and a Roth IRA must coordinate their contributions between the two accounts. The maximum combined dollar amount an individual can contribute to both accounts for 2008 is $5,000 or the amount of their earned income, whichever is less.

Distribution Guidelines:

Clients taking "qualified distributions" from a Roth IRA will not be subject to ordinary income tax or the 10% early distribution penalty tax. Qualified distributions are distributions that meet both five year holding period requirements and are due to:

• Death
• Disability
• Attainment of age 59 ½
• The purchase of a first home ($10,000 lifetime limit)

There are no mandatory distribution requirements for Roth IRA clients during their lifetime; however, minimum distributions do apply to an account holder's beneficiaries.