What types of retirement accounts can I open with Pax World?

Pax World offers a variety of retirement accounts designed to help individuals save effectively for their retirement. One common type of account available is the Individual Retirement Account, often referred to as an IRA. Within this category, there are typically two main types: Traditional IRAs and Roth IRAs. A Traditional IRA allows individuals to contribute pre-tax dollars, which can reduce taxable income for the year in which contributions are made. Taxes are then owed when the funds are withdrawn during retirement. On the other hand, a Roth IRA is funded with after-tax dollars, meaning that qualified withdrawals in retirement are tax-free, provided specific conditions are met. Additionally, Pax World may also offer other types of retirement accounts, such as Simplified Employee Pension (SEP) IRAs, which are aimed at self-employed individuals and small business owners. These accounts permit higher contribution limits, allowing for greater tax-deferred growth over time. Furthermore, there could be options regarding employer-sponsored retirement plans, depending on your employment status. For detailed account options and guidelines on minimum contributions or investment choices, it is best to visit the current web page of Pax World, where you can find the specific offerings and potentially get in touch with their support for further clarification.