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

New York Life offers a variety of retirement accounts designed to meet the diverse needs of individuals planning for their financial future. One of the primary types of retirement accounts is the Individual Retirement Account, or IRA. New York Life provides both Traditional IRAs and Roth IRAs. A Traditional IRA allows individuals to contribute pre-tax income, which may lead to potential tax deductions in the year of the contribution. On the other hand, a Roth IRA allows individuals to contribute after-tax income, enabling tax-free withdrawals in retirement under qualifying conditions. Additionally, New York Life offers employer-sponsored retirement plans, such as 401(k) plans. These plans are designed to help employees save for retirement while taking advantage of potential employer matching contributions. There are also Simplified Employee Pension plans (SEPs) and SIMPLE IRAs aimed at small business owners and their employees. New York Life is also known for its fixed indexed annuities, which can provide both retirement income and protection from market volatility. These products can be an integral part of a comprehensive retirement strategy, combining growth potential with the assurance of income for life. For more specific details, it is advisable to check the current web page for the most up-to-date information and offerings regarding retirement accounts by New York Life.