Traditional IRA	Roth IRA
Who is Eligible	Individuals under age 70 1/2 who have earned income, regardless of amount	Individuals of any age with Modified Adjusted Gross Income under a certain level
Tax Status of Earnings	Earnings are taxed as regular income according to your income tax bracket at time of withdrawal	No taxes paid on earnings provided account has been established for at least five years and at least one of the following applies: First home purchases ($10,000 lifetime limit) Death/disability • Age 59 1/2 or older
Yearly Maximum Allowable Contributions	$2,000 or 100% of compensation, whichever is less (single) $4,000 or 100% of combined compensation, whichever is less (joint) but no more than $2,000 to each IRA	Same as Traditional IRA
Tax Deductibility of Contributions	If not covered by an employer-sponsored plan, fully deductible if certain income criteria are met If covered by an an employer-sponsored plan, fully deductible if certain income criteria are met If covered by an an employer-sponsored plan, partially deductible if certain income criteria are met	Contributions are not tax deductible
Mandatory Distribution Status	Distributions must start by 70 1/2	No mandatory distribution requirement
Modified Adjusted Gross Income Limits	To fully deduct the $2,000 maximum contribution: Not covered by employer plan If covered by employer plan, less than a certain amount of Modified Adjusted Gross Income To partially deduct: Covered by an employer plan but meet Modified Adjusted Gross Income criteria	To be eligible to contribute the $2,000 maximum: Meet Modified Adjusted Gross Income requirement
Early Withdrawal Options (before age 59 1/2)	10% early withdrawal penalty waived for: Post-secondary education expenses First home purchases ($10,000 limit) Death/disability Certain medical expenses/health insurance premiums during unemployment Certain substantially equal annual periodic payments (Taxes are still paid upon withdrawal)	10% early withdrawal penalty waived for: Post-secondary education expenses First home purchases ($10,000 limit) Death/disability Certain medical expenses/health insurance premiums during unemployment Certain substantially equal annual periodic payments

This information is only an overview of IRA matters. Because the laws governing IRAs are so complex, please consult your tax adviser. This information is not intended to provide tax or other legal advice. In addition, this information only addresses the federal income tax aspects of IRAs and is not intended to address the state or local tax aspects. Please consult your tax adviser about state and local taxes.

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For more information about an Bishop Street Funds No Annual Fee Traditional or Roth IRA, contact your financial consultant or call 1-800-622-FUND(3863).

Contact Bishop Street	Resource Library Retirement Planning Section	Call Bishop Street Funds at 1-800-262-9565	IRA vs. Roth IRA Calculator