IRAs*
Ensure a happy future.
Grow your money for retirement.
Traditional Individual Retirement Account (IRA)
- Tax-deferred earnings
- Possible full or partial tax deduction
- Small minimum deposit required
- Maturities range from 12, 18, 24, 30, to 36 months
- Earn a fixed market rate on deposits, with interest paid quarterly
- Withdrawals prior to maturity are subject to substantial early withdrawal penalties
Roth Individual Retirement Account
- While contributions to a Roth IRA are not tax deductible, earnings grow tax free based on the Taxpayer Relief Act of 1997
- Earnings can be withdrawn tax free after five years if the account holder is at least 59 1/2 years old, disabled, or in the case of death
- Unlike the traditional IRA, distributions are not required at age 70 1/2, and those with earned income can continue to make contributions after age 70 1/2
- Small minimum deposit required
- Maturities range from 12, 18, 24, 30, to 36 months
- Earn a fixed market rate on deposits, with interest paid quarterly
- Withdrawals prior to maturity are subject to substantial early withdrawal penalties.
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*Please contact your tax advisor before contributing to an IRA.