A Roth IRA is an individual retirement account created by the Taxpayer Relief Act of 1997. Roth IRA accounts are traditionally used as retirement savings accounts. They allow limited contributions to be made throughout the tax year and can be withdrawn within 5 years after establishing the account provided you are aged 59 1/2 or older.
We can help you start saving for retirement today. We currently offer the following IRA options:
Individual Retirement Accounts are an important part of planning for your future financial well being. These types of accounts offer tax advantages and there are two primary categories of IRAs: Traditional and Roth.
Traditional IRAs boast tax-deductible contributions–taxes are not paid on deposits until you begin to make withdrawals, so the investments grow tax-deferred. On the other hand, contributions to a Roth IRA are not tax-deductible, so as a result they are tax-free upon distribution. Your earnings in these types of accounts also grow tax-deferred, so income taxes on the investment earnings are not paid until withdrawals are made.
To open an IRA account or for more information, please call a member service representative at 800.356.0067.