IRA Plan Agreement and Disclosure Amendment

Understand the new legislation and rules that will affect IRA documents.You will find the following enhancements and clarifications to your plan agreement and disclosure:

  • Contribution limit amounts were updated for the 2014 and 2015 cost-of-living adjustments
  • Language was added to clarify how excess contributions are treated if more than the allowable amount is contributed
  • Expired provisions and those that are no longer available have been removed
  • Language was added to explain the contribution deadline extension for members of the Armed Forces serving in a combat zone or hazardous duty area
  • Extension to the Charitable Gifting provision
  • Language added for Hurricane Sandy Relief
  • Language was added to explain the IRS interpretation on the number of Rollover contributions an IRA owner can make during any 12-month period
  • Updated your plan agreement to permit you to elect brokerage services through People’s Securities, Inc.* without requiring you to establish a separate IRA plan

 

Select the link that best describes the type of IRA Plan you own at People’s United Bank and print.  If you are unsure of your plan type please refer to your IRA statement for the description. If your IRA is an inherited type the mailing address will state “Beneficiary Of”.

If you have a KEOGH plan the above documents do not pertain to your plan. KEOGH plan restatement requirements will take place at the end of 2015. You will receive further communication in the mail over the next few months.

Related Information


Disclaimer



Investment and Insurance Products:

  • Not Insured by FDIC or any Federal Government Agency
  • Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate
  • May Lose Value

Investment and insurance products are offered through People’s Securities, Inc., a Broker/Dealer, member of FINRA and SIPC, an insurance agency and a registered investment advisor. People’s Securities, Inc. is a subsidiary of People’s United Bank, N.A. Investment products may involve risk, including possible loss of principal.

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