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IRA Accounts
For further information on IRA's, please give us a call at 362-3171.

Traditional IRA 
The Traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn.
  • Contribute up to $5000 per year (Higher limit age 50 and older), depending on your earned income and tax filing status
  • Contributions may be tax-deductible.
  • May withdraw penalty-free in certain circumstances.
Roth IRA 
The Roth IRA is an account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA than from a traditional IRA.
  • Contribute up to $5000 per year (Higher limit age 50 and older), depending on your earned income and tax filing status
  • Withdrawals not required at age 70 ½.
Education IRA 
The Education IRA is an account that features tax-free withdrawals for a child's higher education expenses. Contributions are nondeductible, therefore, unlike the Traditional IRA; distributions from an Education IRA are penalty-free and tax-free.
  • Contribute $2000 per child per year
  • Qualified education expenses may include tuition, books, fees and computer equipment.
  • Funds can be transferred from one child's account to another in the same family.

 $40 Annual Maintenance Fee


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