Individual Retirement Account

The early bird catches the worm. Watch your retirement dreams take flight with a solid savings plan. IRAs offer tax-advantaged* ways to save for your golden years.

We offer different types of accounts for different financial situations. Ask for more details today!

IRA Benefits

Traditional IRA

This type of IRA is a great option if you don’t have a tax-advantaged retirement plan through your employer. Lower your overall taxable income for the year by contributing to a traditional IRA.

  • Interest earnings are tax-deferred until withdrawal
  • Current income grows tax-free until withdrawal
  • Increases untaxed savings since withdrawals will be subject to a lower tax bracket
  • Many account holders are eligible to deduct their contributions on current returns

Roth IRA

Already have a 401(k) plan or similar retirement plan from your employer? A Roth IRA is a great complement to your other retirement savings accounts. Contribute post-tax income now and enjoy tax-free withdrawals in retirement.

  • All earnings are tax-free upon withdrawal
  • Your income is taxed now, when you are working, instead of when you are retired
  • Some early withdrawals are penalty-free for specific situations


FAQs About Individual Retirement Accounts

How much can I contribute to an IRA?

As of 2021, the annual limit for traditional and Roth IRAs is $6,000. People aged 50 and older can contribute up to $7,000 a year.


When can I take distributions from my IRA?

You can start withdrawing from your IRA at age 59 ½ without penalties. It doesn’t matter if you’re still working or not.


Can I borrow against my IRA?

The short answer is no. Loans can only be made from qualified 401, 403, and governmental plans.


Open a new IRA account today!

Want to learn more about IRAs or ready to open a new account? Contact us or visit your nearest location to open an IRA account today!

*Consult your tax adviser.