We know that not everyone is comfortable entrusting their retirement in stock or bond markets. For people with a more conservative approach to their retirement, we offer various IRA options. These products offer all the benefits of IRAs, but without the risk of equities.*
Traditional IRA
Individual retirement account established for the benefit of one person. Contributions into a traditional IRA are a great way to supplement other retirement savings. Benefits include:
- Tax-deferred earnings
- Possible tax-deductible contributions
- Mandatory distributions required beginning at age 70 ½
- Withdrawals subject to income tax, and, prior to age 59 ½, a 10% federal tax penalty may apply
Roth IRA
A Roth IRA is an individual retirement account established for the benefit of one person. Benefits include:
- Tax-free earnings on contributions
- No minimum age to open or contribute – must have earned income
- Tax-free distributions are tax-free if you are at least 59½ and the account has been established for longer than five years
- Contributions allowed after age 70½ – must have earned income
- No required minimum distribution
* Always seek professional tax advice. Account fees: $25.00 outgoing transfer fee to another financial institution. Bank forfeiture on early withdrawal may apply.
