If you are under the age of 70 ½ and you or your spouse have earned income from employment, you can establish a tax-deferred Traditional IRA and contribute with pre-tax dollars.
- No annual fees
- Contribution allowance of up to $5,000 or 100% of your earned compensation per year, whichever is less
- Two IRA investment options: IRA Statement Savings or IRA Certificate of Deposit
>> Learn more about Traditional IRAs.
Invest your after-tax dollars today and receive tax-free earnings later.
Establish a Roth IRA with after-tax dollars and the interest growth is tax-exempt. You may withdraw money at any time, tax and penalty free. Unlike a Traditional IRA, you’re not required to withdraw at any age.
- No mandated minimum distributions
- No age requirements for distributions
- Withdrawals of interest and/or principle after 5 years are tax-free, if you're over the age of 59 ½ or will use the funds for first time home expenses
- Contribution eligibility determined by income level
>> Learn more about Roth IRAs.