What are the different types of retirement accounts offered by NY Life?

NY Life Retirement Svcs offers a range of retirement accounts to suit individual needs and goals. These include Traditional Individual Retirement Accounts (IRAs), Roth IRAs, Simplified Employee Pension (SEP) IRAs, Simple IRAs, and 401(k) plans. Traditional IRAs allow tax-deductible contributions with tax-deferred growth, while withdrawals are taxed. Roth IRAs offer tax-free growth and withdrawals, but contributions are not tax-deductible. SEP IRAs are designed for self-employed individuals and small business owners, offering tax-deductible contributions and tax-deferred growth. Simple IRAs are similar but suitable for businesses with fewer employees. Lastly, NY Life provides 401(k) plans, employer-sponsored retirement accounts allowing tax-deferred contributions and potential employer matching. These various retirement accounts enable individuals to choose the most suitable option based on their financial situation, goals, and employment status.