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An I.R.A. Fact from Manufacturers Hanover:

YOU'VE HELPED MILLIONS RETIRE. NOW HELP YOURSELF.

Your Social Security taxes are helping to provide for the retirement of our older citizens. But will you receive your full share when you retire?

As you know, the nation's pension plan faces some difficult challenges. The most threatening comes from the change in the work-retiree ratio. Our population is growing older, which means there are fewer workers to support more and more retirees. in 1950, for instance, for every person receiving benefits, 16 workers paid Social Security taxes. Today, the financial burden falls on only 3 workers. And the ratio is expected to get worse.

That's why it would be wise for you to begin looking into alternative sources of income. Like the new Individual Retirement Account (I.R.A.). Not only will it provide an excellent source of income for retirement, but many experts also consider it to be the best tax shelter in years. In the past, an I.R.A. was limited to those not covered by a company pension plan. Starting January 1, 1982, it's a brand-new opportunity for any salaried individual.

Manufacturers Hanover Trust is pleased to offer this new I.R.A. Here's how it works. Each year, you're entitled to deposit up to $2,000 into an I.R.A. ($2,250 if you have a nonworking spouse, or $4,000 if you both work). Whatever you deposit is then deductible from your gross income, so it's beyond the tax collector's reach. Plus, if you're on the borderline of tax brackets, your contribution may drop you into the lower one. So our I.R.A.'s pay off immediately. However, the real benefit is down the line. You see, the principal and interest go untaxed till you retire. Without the yearly tax bite, your money is free to increase dramatically. For example, if you put $2,000 a year into an I.R.A. at, let's say, 10% interest, you would have $523,000 after 25 years. That's more than twice the amount you would accumulate in a non-sheltered venture. Pretty good. No wonder a lot of people see the new I.R.A. as a good way to look after their own retirement needs.

At Manufacturers Hanover Trust we want to help make your money worth more. Today. And when you're ready to retire.

MANUFACTURERS HANOVER TRUST
We make your money worth more.

Member FDIC. Further information about our savings plans is available at any branch.
Substantial interest penalty for early withdrawal.
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Please note that the language and terminology used in this collection reflects the context and culture of the time of its creation, and may include culturally sensitive information. As an historical document, its contents may be at odds with contemporary views and terminology. The information within this collection does not reflect the views of the Smithsonian Institution, but is available in its original form to facilitate research. For questions or comments regarding sensitive content, access, and use related to this collection, please contact transcribe@si.edu.