IRAs

(Individual Retirement Accounts)

Your someday seems far away…..but it will be here sooner than you realize. Start saving for retirement now with a low-risk, high-reward IRA.

IRAs

You can make deposits throughout the year to your Traditional IRA, Roth IRA or Educational Savings Account.

Learn how an IRA can benefit you and which is best for you!

What’s the Difference Between Traditional and Roth IRAs?

The differences between the IRAs relate mainly to tax benefits. A Traditional IRA’s contributions are tax-deferred, giving you tax benefits right now as you save. A Roth IRA’s contributions are taxed now so you have the potential for tax-free retirement funds later in life. Learn more and discover which option is right for you here.

How Do I Move Retirement Savings to Another Account?

Your retirement savings aren’t locked in one account forever. You can move them in a couple different ways: a transfer, a rollover to another IRA and a rollover to an employer retirement plan. These have different tax consequences. Learn more here.

Is It Time to Cash in on Retirement Savings?

Each retirement account has its own rules for distributions. There may be penalties for cashing out before the proper age, but there may also be a required distribution for those getting older without using the account. Find more details here.

What Are the Beneficiary Options?

There are different tax rules for beneficiaries depending on when you inherited the IRA and your relationship with the original account holder. Take a deep dive here.

What’s a Coverdell ESA?

It’s an account that helps your child achieve any higher education dreams they have. It can cover tuition, books, supplies and even room and board. Your contributions are not tax-deductible, but the money and any earnings are tax-free when your child uses them. Learn more here.

*APY= Annual Percentage Yield. Dividends paid quarterly on accounts with an average daily balance of $1,000.00 or more. Rate as of 7/1/24. Rate subject to change at any time without notice.