Individual Retirement Accounts

Individual Retirement Accounts are provided to meet the growing need for retirement fund investment alternatives. Non-working spousal accounts are available to boost your savings. With an IRA account you may be able to invest a substantial amount tax deferred. For traditional and Roth accounts, penalty free distributions are allowed for specific purposes. Consult a tax professional for the amount you might be eligible to save or withdraw. As always we offer our IRA accounts with no annual fee.

  • Traditional IRA’s grow tax deferred and allow tax deductible contributions depending on your modified adjusted income.
  • Roth IRA’s grow tax deferred, contributions are not tax deductible, and principal can be withdrawn tax free at any time.
  • Coverdell Education Savings Accounts grow tax deferred, contributions are not tax deductible, and distributions can be made tax and penalty free for the Coverdell’s qualified education expenses.

This information is provided for general information purposes only. It is not intended to provide tax or legal advice or to be a detailed explanation of the rules governing individual retirement accounts. Penalties for early withdrawal from certificate accounts still apply. Please consult your tax professional for specific information.



 
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