Country Insurance offers the following types of IRAs - Traditional IRA, Roth IRA and Rollover IRA. A Traditional IRA is a personal retirement plan that gives customers tax-deferred growth and may give them an income tax deduction. The deductibility depends on several factors, including income level and participation in a workplace retirement plan. One can always contribute to a Traditional IRA if s/he earned income, but may not be able to deduct it. The Roth IRA is unique among retirement plans. The most significant aspect of this retirement account is its potential for tax-free growth as opposed to merely being tax-deferred. Earnings in a Roth IRA truly grow tax-free and qualified withdrawals are never taxed, since there is no age 70 ½ mandatory distribution requirement. A Roth IRA may offer longer tax-advantaged compounding than does a traditional retirement plan.