<<I just began working for a hospital which provides a pension plan. It just so happens that this pension plan is in the form of mutual funds, to whish the hospital automatically adds a % of my gross income. I already have an IRA set up of my own, can I still contribute to this IRA on a tax deferred basis?>>Of course...you can ALWAYS make the contribution to your own IRA. The question usually is: Is the contribution deductible???For 1997, you can still make a deductible contribution to your own IRA account if you are filing married/joint, and your adjusted gross income (AGI) is less than $40k. If you income is between $40k and $50k, your deduction is limited. If you income is more than $50k, your contribution will be non-deductible in total.If you are single, or Head of Household, your AGI limitations are:1. Less than $25k - Fully Deductible IRA2. Between $25k and $35k - Partially Deductible3. Over $35k - Totally non-deductible.TMF TaxesRoy
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