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Individual Retirement Accounts (IRAs)

Get the financially secure retirement you deserve. By saving now, you can rack up compound interest while enjoying tax advantages*. We offer both traditional and Roth, so you can choose the plan that works for you.

Summary
  • Competitive interest above standard savings rates
  • Traditional and Roth IRA options
  • No monthly or annual maintenance fees

*Consult a tax advisor.

Traditional vs. Roth

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • Contributions are tax deductible on state and federal income tax*
  • Withdrawals can begin at age 59 1/2
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70 1/2

Roth IRA

  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Direct contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59 1/2
  • Early withdrawals on interest subject to penalty**
  • No mandatory withdrawals at age 70 1/2

*Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

 

Interested? Reach out to us to learn more.