Individual Retirement Accounts (IRAs)

Plan for the future with an IRA and relax knowing your money is helping you build a better tomorrow.

Details

Benefits of Individual Retirement Accounts (IRAs):

• Traditional and Roth IRA options
• No setup fees
• No monthly or annual maintenance fees
• Long and short term options
• $500 minimum deposit to open

Traditional IRA

• No income limits to open
• No minimum contribution requirement
• Contributions are tax deductible on state and federal income tax*
• Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
• Withdrawals can begin at age 59 ½
• Early withdrawals subject to penalty**
• Mandatory withdrawals at age 70 ½

Roth IRA

• Income limits to be eligible to open Roth IRA***
• Contributions are NOT tax deductible
• Earnings are 100% tax free at withdrawal*
• Principal contributions can be withdrawn without penalty*
• Withdrawals on interest can begin at age 59 ½
• Early withdrawals subject to penalty**
• No mandatory distribution age
• No age limit on making contributions as long as you have earned income