Educationa IRA
from Valley National Bank
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Valley National Bank's Educational IRA is designed to help fund a child's higher education expenses. Contributions up to $2000 can be made up to the child's 18th birthday. This is a tax-deferred investment growth and has tax-free withdrawals if used for higher education expenses by the beneficiary or another family member before the age of 30. Funds not distributed for higher education must be distributed to the beneficiary and contributions not tax deductible. The maximum annual contribution is $2000 with contributions separate from Traditional and Roth IRA allowed. Rollovers are eligible only from other Education IRA plans.
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Michael answered billspadaro's question:
billspadaro asked:
i.leaving IRA TO SEVERAL BENIFICIARIES INCLUDING MINOR CHILDREN.
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Michael answered:
BillSpadaro, While you are still alive, all you can do with the IRA is name...
