New York, NY, December 25, 2009 --(PR.com
)-- First Investors Corporation is letting its clients know that there are major changes ahead for Roth IRAs in 2010.
Beginning in 2010, individuals can convert their Traditional IRAs into Roth IRAs regardless of income level. Previously, you could only convert a Traditional to a Roth if your modified adjusted gross income was $100,000 or less, whether you were married or single.
As a result, many people may not have had this option until now; and it is one they may want to consider. A Roth IRA may be appealing to many investors, as assets have the potential to grow tax deferred, and withdrawals of contributions and any earnings are tax free for qualified distributions.
First Investors Financial Services Representatives are stepping up their efforts now and through 2010 to get the word out about the Roth IRA changes. “Similar to any other major financial decision,” says Robert M. Flanagan, President of First Investors Corporation, “we encourage our clients to speak with their representatives first before converting to a Roth IRA.” Each investor needs to examine his or her particular situation to determine which retirement vehicle fits his or her financial needs the best.
For more complete information about any First Investors fund, you may obtain a free prospectus by calling (800) 423-4026; writing to First Investors Corporation at the address shown below; or visiting the website at www.firstinvestors.com. You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus contains this and other information about the fund, and should be read carefully before you invest or send money. An investment in a fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
First Investors Corporation
110 Wall Street
New York, NY 10005
 Distributions are “qualified” if you have held your Roth IRA for at least five years and one of the following is true: you are age 59½ or older when you receive the distribution; you use the distribution for a first-time home purchase ($10,000 lifetime limit); you are disabled; or you die.