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Individual Retirement Accounts (IRAs)

Your golden years will sneak up on you before you know it. Facilitate retirement plans with an interest-bearing account. Need help deciding which avenue is best? We’ll point you in the right direction. We offer Traditional* and Roth IRAs*. Both have their own unique tax advantages, and there are no setup or service fees.

Traditional IRA

Contributions are made from earned income and may be tax-deductible. Interest earned is tax-deferred until distributions are taken.

  • Anyone under age 70½ can open
  • No annual fee or set-up charges
  • Contributions may be tax deductible**
  • $5,500.00 contribution limit per year
  • Additional $1,000.00 "catch-up" contribution allowed for ages 50 and up
  • Earnings accumulated tax-deferred**
  • Withdrawals can begin at age 59½
  • Mandatory withdrawals at age 70½
  • Early withdrawals subject to penalty***

Roth IRA

Contributions are made from earned income. Distributions of principal and interest may be tax-free.

  • No annual fee or set-up charges
  • $5,500.00 contribution limit per year
  • Additional $1,000.00 "catch-up" contribution allowed for ages 50 and up
  • Contributions are not tax-deductible**
  • Earnings and principal may be tax free upon withdrawal
  • Principal may be withdrawn penalty-free at any time*
  • Early withdrawals subject to penalty***
  • Earnings can be withdrawn penalty-free at age 59½
  • No mandatory distribution age

Need More Info?

Knowing which IRA is right for you can be confusing. If you would like more information, contact us or speak with your tax advisor.

*Penalty for early withdrawal. Some age and deposit restrictions apply

**Consult with a tax advisor.

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