Individual Retirement Accounts (IRAs)

Invest now, enjoy later


A Traditional Individual Retirement Account (IRA) allows anyone to make tax-deductible contributions
     •    Earnings grow tax-free until the account owner turns 59 ½ years old
     •    Early withdrawals possible - 10% penalty fee applies
     •    You can withdraw money from the account to fund your retirement at 59 ½ years old
     •    Contributions may be tax-deductible (consult your tax advisor)
     •    No annual fees



A Roth IRA is an Individual Retirement Account that provides tax-free growth.
     •   Advantage of getting taxed only once, rather than twice (or more) as with a regularly-taxed
         investment account.
     •   Make withdrawals at any time, tax-free and penalty-free
     •   You pay income tax, and then make your contribution with post-tax dollars
     •   Your principal grows tax-free
     •   No annual fees

Education (Coverdell)

Fund an individual’s education with a Coverdell Individual Retirement Account (IRA)
     •   Tax-deferred earnings (until distributed)
     •   Distributions typically tax-free
     •   Student will not owe tax on any withdrawal from account as long as it is equal to or less than the
         child’s education expenses (at an eligible educational institution)
     •   Withdrawals may be used for K-12, and college education expenses
     •   No annual fees

   *See Truth-in-Savings Disclosure for transaction restrictions.


Traditional IRAs vs Roth IRAs

Traditional IRA
A Traditional IRA offers potential tax-deductible contributions and the opportunity for your earnings to grow tax-deferred until they are withdrawn in retirement. This means you won’t pay federal income taxes on your deductible

Roth IRA
A Roth IRA provides the opportunity for your earnings to grow tax-free. Generally, Roth IRAs offer greater tax savings and withdrawal flexibility than Traditional IRAs.