Traditional IRAs
Roth IRAs
SEP Plans
SIMPLE Plans
Coverdell Education Savings Accounts
IRA Transfers

Because of the tax implications and complexities of these retirement and savings accounts we urge you to read the Disclosure Statements and Custodial Account Agreements to which the Applications are attached (in the back of the IRA Booklet) and to consult with your tax advisor before investing.

The answers to many questions, including contribution limits, can be found in these Disclosure Statements and we would be happy to send you an IRA Booklet.

Traditional IRAs
In a Traditional IRA, amounts contributed to the IRA may be tax deductible at the time of contribution. Distributions from the IRA will be taxed at distribution except to the extent that the distribution represents a return of your own contributions for which you did not claim (or were not eligible to claim) a deduction. Beginning in 2002 additional "catch-up" contributions may be made if you are age 50 or older.

Roth IRAs
In a Roth IRA, amounts contributed to your IRA are taxed at the time of contribution, but distributions from the IRA are not taxed if you have held the IRA for certain minimum periods of time (generally until age 59 1/2 but in some cases longer). Beginning in 2002 additional "catch-up" contributions may be made if you are age 50 or older.

SEP (Simplified Employee Pension) PLANS
Traditional IRAs can also be used in connection with SEP Plans established by your employer (or by you if you are self-employed). Similar to the Traditional IRA, amounts contributed are tax deductible at the time of contribution, and distributions will be taxed at the time of the distribution. Beginning in  2002 additional "catch-up" contributions may be made if you are age 50 or older. Special rules apply to these SEP IRAs.

SIMPLE (Savings and Incentive Match Plan for Employees) PLANS
Traditional IRAs can also be used in connection with SIMPLE Plans established by your employer (or by you if you are self-employed). Under these SIMPLE Plans you can have your employer make salary reduction contributions to your SIMPLE IRA plus employer matching contributions or non-elective contributions. Contributions are tax deductible at the time of contribution and distributions are taxed at the time of receipt. Beginning in 2002 additional "catch-up" contributions may be made if you are age 50 or older. Special rules apply to SIMPLE IRAs.

COVERDELL EDUCATION SAVINGS ACCOUNTS (CESA)
Anyone may contribute to a CESA regardless of his or her relationship to the beneficiary who must be under age 18 at the time of contribution.

Contributions are not tax deductible. A beneficiary may roll over contributions to another CESA until he or she attains age 30 or to a new beneficiary in his or her family so long as the recipient has not attained age 30. Distributions must generally be made by the time the beneficiary attains age 30 and will not be taxable if they do not exceed the beneficiary's "qualified higher education expenses" for the year. In 2002 the annual contribution limit has been increased from $500 to $2,000 and "qualified education expenses" has been expanded to include elementary and secondary school expenses as well as computer equipment and Internet access.

IRA TRANSFERS
To transfer your IRA from your current IRA Custodian, you may use the form in the back of the IRA booklet.

* * *

To receive an IRA Booklet, please check the IRA box in the Prospectus and Application section.