Individual Retirement Accounts are great tools that allow you to prepare for retirement, no matter what age you are. Our IRA Share Account allows you to hold your retirement funds in an IRA without locking them into an IRA share certificate for an extended period of time.

  • No service fees
  • No minimum balance required
  • Traditional IRA – allows you to put away money for your retirement but not pay taxes on your earnings until they are withdrawn.
    • Contribute up to $5,000 per year ($6,000 for those age 50 and older), depending on your earned income and tax filing status
    • Contributions may be tax-deductible
    • Early withdrawals can begin at 59 ½ years of age without penalty
    • Withdrawals are required at 70 ½ years of age
    • May withdraw penalty-free in certain circumstances
  • Roth IRA – allows you to pay the taxes on your retirement income now instead of later.
    • Contribute up to $5,000 per year ($6,000 for those age 50 and older), depending on your earned income and tax filing status
    • Early withdrawals can begin at 59 ½ years of age without penalty
    • Withdrawals are NOT required at age 70 ½ years of age
    • Competitive interest rates

 

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IRA Calculators

For more retirement planning guidance, visit 'My Financial Network.