Product Taxation at a Glance

	Deductible contributions	Tax-deferred earnings	Age of withdrawal without tax penalty	Age when minimum distribution is required
403(b) and 401(k) Retirement Plans	Yes (your contributions, not your employer's).	Yes	59½*	70½**
Keogh	Yes	Yes	59½*	70½
Traditional IRA	Yes, up to $5,000 (if 50 or older, up to $6,000 in 2008).***	Yes	59½*	70½
Roth IRA	No	Yes, and distributions, including earnings, are completely tax free if held five or more years if a distributable event has occurred.	59½, and distributions, including earnings, are completely tax free if held five or more years if a distributable event has occurred. (Contributions may always be withdrawn tax-free.)*	N/A
After-Tax Annuities	No	Yes	59½*	90
529 College Savings Plans	No, but state deductions may be available.	Yes, and qualified distributions, including earnings, are tax-free.	Qualified withdrawal rules vary from state to state. Non-qualified withdrawals may be subject to federal and state taxes, and possible recapture provisions for state tax deduction amounts.	N/A
Universal Life Insurance	No	Yes	Withdrawals may be made at any time without tax penalty, unless the policy is a modified endowment contract ("MEC"). Withdrawals and loans from a MEC prior to age 59 ½ may give rise to an early withdrawal penalty of 10% of the amount subject to tax.	N/A
Mutual Funds	No	No	Withdrawals may be made at any time without tax penalty.	N/A

*	Withdrawals of earnings are subject to ordinary income tax and a federal 10% penalty may apply prior to age 59½.
**	Grandfathered amounts in 403(b) plans not subject to minimum distribution until age 75.
***	Deductions are subject to income restrictions if participant or spouse participates in a retirement plan.
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