Individual Retirement Accounts: Better Than Ever
Individual Retirement Accounts (IRA) create value for you to save for your retirement years.  Please contact us for more information on Individual Retirement Accounts.

Traditional IRA

  • Must have earned income and not reach age 70½ by end of year
  • Annual IRA contributions limits are set for each year; see IRS guidelines 
  • Annual limit applies to any combination of IRA plans
  • Contributions may be tax-deductible if you are not an active participant in an employer retirement plan; your ability to take a deduction also depends on your income fo rthe year, so see IRS guidelines
  • Earnings accrue on a tax-deferred basis

Roth IRA

  • Contribute to a Roth IRA even after age 70 ½, with earned income
  • Contributions will not be tax deductible, but the contributions and earnings can be withdrawn tax-free
  • Annual IRA contribuitons limits are set for each year; see IRS guidelines
  • Annual limit applies to any combination of IRA plans 
  • No required minimum distributions after reaching age 70 ½.

Catch-up Contributions


You may be eligible for a catch-up contribution if you have reached age 50.  See IRS guidelines.

The rate on your IRA account may change after your account is opened.  A minimum balance of $100 is required for an IRA to avoid service charges.