Types of Accounts

Non- Retirement Account Types

Individual -Single owner, over 18 years of age.

Joint Tenants with Rights of Survivorship (JTWROS) - Two or more account owners, all over 18 years of age. If an account owner dies, all interests in the account will pass to the survivor(s). The survivor(s) and the deceased's estate will be responsible for any liabilities in the account.

Tenants by the Entirety (TBE) - (Available only in AR, DE, DC, FL, HI, MD, MA, MI, MO, PA, TN, VT, and WY) -Two account owners, over 18 years of age. Unlike JTWROS, TBE accounts are limited to ownership by individuals who are married at the time the assets are acquired. If an account owner dies, all interests in the account will pass to the survivor, and the survivor will be responsible for any liabilities in the account.

Tenants in Common (TIC) - If an account owner dies, the interests in the account as of the close of business on the date of death will be divided as specified on the application. If the death does not occur on a business day, the following business day will be used.

Gift/Transfer to a Minor (UGMA/UTMA) - One account owner, a minor, with a designated custodian over the age of 18. The custodian maintains control of the assets until the minor reaches the age of majority in their state (usually age 18), at which time the individual takes complete control. Please seek legal advice to determine which account is best suited for your investment goals.

Coverdell ESA (formerly the Education IRA) - Beginning January 1, 2002, an individual may deposit up to $2,000 per year into a Coverdell ESA for a child under age 18. Subject to certain limits based on the contributor's adjusted gross income, parents, grandparents, other family members, friends, and a child himself or herself may contribute to the child's Coverdell ESA, provided that the total contributions for the child during the taxable year do not exceed the $2000 limit. Amounts deposited in the account grow tax-free until distributed, and the child will not owe tax on any withdrawal from the account if the child's qualified higher education expenses at an eligible post secondary educational institution for the year equal or exceed the amount of the withdrawal. If the child does not need the money for post secondary education, the account balance can be rolled over to the Coverdell ESA of certain family members who can use it for their higher education. Amounts withdrawn from a Coverdell ESA that exceed the child's qualified higher education expenses in a taxable year are generally subject to income tax and a 10% penalty. The Hope Scholarship Credit and Lifetime Learning Credit otherwise available under the IRC may not be claimed for a student's expenses in a taxable year in which the student takes a tax-free withdrawal from a Coverdell ESA.

Trust - Account established per the design of an enacted Trust agreement, where a fiduciary called a Trustee controls the assets for a person called a Beneficiary.

Corporation/Partnership - This is a legally defined entity separate from the individual. The corporation/partnership (C/P) must be in existence prior to opening an investment account and supporting documentation such as a charter document (CD) or corporate resolution (CR) must accompany your investment application. The C/P may appoint an authorized individual(s) (AI) to establish an account and enter transactions and changes on behalf of the entity. However, the owner of the account is considered to be the C/P and the AI(s) must adhere to any investment guidelines and suitability requirements defined in the CD or CR of the corporation/partnership.

Retirement Account Types

Traditional IRA - A Traditional IRA may be opened by anyone who has compensation and who will be less than 701/2 by the end of the calendar year. Except in the case of a rollover contribution or a contribution to a simplified employee plan (as defined in Code section 408(k)), contributions to a Traditional IRA should not exceed the lesser of $3,000 or 100% of the Participant's compensation for the applicable tax year (subject to the limits on deductions described in Article III thereof). The contribution must be received by the due date of the Participant's tax return for the applicable tax year without regard to extensions received for the filing of such tax return.

Rollover IRA - A Rollover IRA may be opened by anyone who received a qualified rollover distribution and then deposited that amount as a rollover contribution to a Rollover IRA within 60 days of receipt thereof. The Participant must have been a member of his or her prior employer's qualified retirement plan, tax shelter annuity or qualified annuity plan or another individual retirement account and received a qualifying rollover distribution. The Custodian also may, in its sole discretion, accept into a Rollover IRA a transfer or rollover contribution directly from the former custodian or trustee or from the Participant. By accepting either a transfer or a rollover contribution, the Custodian does not accept any responsibility for the tax results of the transfer or rollover contribution. If accepted, the Custodian, if requested by the Participant, shall hold the rollover contribution in a separate Custodial Account that consists only of rollover contributions and/or assets attributable to a transfer and the earnings thereon. An individual may also open a Rollover IRA by rolling over part or all of the assets withdrawn from another IRA as provided under Code section 408(d)(3).

Marital IRA - A Marital IRA may be opened for a participant who will be less than age 701/2 by the end of the calendar year. Except in the case of a rollover contribution or a contribution to a simplified employee plan, no contribution will be accepted by the Custodian to a Marital IRA if the total of such contributions exceeds the lesser of (i) $3,000* or (ii) the total combined compensation of the participant and of the participant's spouse for the tax year minus the amount allowed as a deduction under Code section 219(a) to the participant's spouse for the tax year. The contribution must be received by the due date of the Participant's tax return for the applicable tax year without regard to extensions received for filing of such tax return.

*This amount changes to $4,000 in 2005 and $5,000 in 2008.

Roth IRA - Roth IRA may be established by any individual who has compensation for the tax year. Except in the case of a rollover contribution or transfer, no contribution shall be made to a Roth IRA if the total of such contributions exceeds (i) the lesser of $3,000* or 100% of the Participant's compensation for the applicable tax year minus (ii) the amount contributed on behalf of the Participant for the tax year to all other individual retirement accounts (other than rollover or transfer contributions to an individual retirement account). The contribution must be received by the due date of the Participant's tax return for the applicable tax year without regard to extensions received for the filing of such tax return. The annual dollar limit described in this subsection (a) shall gradually be reduced to $0 between certain levels of Adjusted Gross Income. For a non-married Participant, the annual contribution is phased out as provided in Code section 408A(c)(3)(A) if the Participant has Adjusted Gross Income between $95,000 and $110,000; for a married Participant who files jointly, the annual contribution limit is phased out if the Participant's Adjusted Gross Income is between $150,000 and $160,000; and, for a married Participant who files separately, the annual contribution limit is phased out if the Participant has Adjusted Gross Income between $0 and $10,000.

*This amount changes to $4,000 in 2005 and $5,000 in 2008.

Marital Roth IRA - A Marital Roth IRA may be opened for a Participant who is a non-working spouse. Except in the case of a rollover contribution or transfer, no contributions will be made to a Marital Roth IRA if the total of such contributions exceeds (i) the lesser of $3,000* or the total combined compensation of the non-working spouse and the non-working spouse's spouse for the tax year minus (ii) the amount contributed for the tax year on behalf of the non-working spouse to any individual retirement account (other than rollover or transfer contributions to an individual retirement account). The contribution must be received by the due date of the Participant's tax return for the applicable tax year without regard to extensions received for the filing of such tax return. The annual dollar limit described in this subsection (b) shall gradually be reduced to $0 as provided in Code section 408A(c)(3)(A) if the Participant's Adjusted Gross Income is between $150,000 and $160,000.

*This amount changes to $4,000 in 2005 and $5,000 in 2008.