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Individual Retirement Accounts
Let Us Help With Your Retirement Planning Needs
We offer the following types of IRAIndividual Retirement Account - A tax advantaged type of retirement plan for individuals.'s:
Traditional IRAIndividual Retirement Account - A tax advantaged type of retirement plan for individuals.
With a traditional IRAIndividual Retirement Account - A tax advantaged type of retirement plan for individuals., you may invest up to $4,000 a year (higher limits apply if you are over 50 years of age) and contributions may be partially or fully deductible dependent on income and participation in an employer-sponsored plan. Withdrawals may not be made without penalty until age 59 1/2, unless they are for higher education expenses or for the purchase of a first home. Earnings are tax deferred until withdrawn, and distributions must occur at age 70 1/2.
Roth IRAIndividual Retirement Account - A tax advantaged type of retirement plan for individuals.
With a Roth IRAIndividual Retirement Account - A tax advantaged type of retirement plan for individuals., you may also contribute up to $4,000 a year (higher limits apply if you are over 50 years of age). Contributions may be withdrawn tax-free any time, but are not tax deductible. Interest income is subject to taxation, except after five years to buy a first home or for any purpose after the age 59 1/2. Contributions from earned income can be made after age 70 1/2, and mandatory distributions are not required.
Coverdell Education Savings Account (CESA)
A CESA Savings Account (Educational IRAIndividual Retirement Account - A tax advantaged type of retirement plan for individuals.) allows non tax deductible investments of up to $2,000 per year per child under the age of 18. Funds may be withdrawn tax-free and IRS penalty-free when used for higher education expenses, and unused funds may be transferred to another child in the family.
(*Early withdrawals from IRAIndividual Retirement Account - A tax advantaged type of retirement plan for individuals. certificate accounts will result in a loss of earnings penalty except in certain circumstances. Please refer to a BCCU IRAIndividual Retirement Account - A tax advantaged type of retirement plan for individuals. Plan disclosure for complete details.)
For more information on IRAs including an outline of the eleven types of IRAs, the top ten questions about Roth IRAs, and a handy IRAIndividual Retirement Account - A tax advantaged type of retirement plan for individuals. glossary, click here.
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 | | | | Our Rates as of May 13 | | | | | | | APY: 3.00% | | | | | | | APY: 3.35% | | | | | | | APY: 3.60% | | | | | | | APY: 1.00% | | | | | | |
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