Individual Retirement Accounts (IRA)

Retirement Planning

Traditional IRA
- Certificate terms from 3 month to 5 years
- Possible tax-deferred growth, tax-deductible contributions
- For ages less than 70 ½
- Maximum contribution of $7,000 annually ($8,000 if 50 or older)
- Minimum required distributions starting at age 70 ½
- Minimum certificate deposit of $250
Roth IRA
- Certificates terms from 3 months to 5 years
- Possible tax-deferred growth
- Minimum certificate deposit of $250
- Withdrawals are tax-free after account is open 5 years and you reach age 59 ½ or make qualified home purchase
Coverdell Education Savings Account
- Certificates with maturities from 3 months to 5 years
- Tax-advantaged savings plan for post-secondary education
- Minimum certificate deposit of $250
- Maximum allowed contribution of $2,000 per student annually until age 18
- Tax-free earnings when withdrawn for educational expenses and tax-free withdrawals until age 30
IRA Money Market Account
- Tiered rates to maximize return
- Minimum deposit requirements to earn interest
IRS Savings Account
- Flexibility to temporarily hold IRA funds
- No minimum deposit requirements

Enter your age, income, and saving rate, to find out how comfortably you'll be able to live in retirement.