It’s never too early (or late) to prepare for retirement. Get to your endless vacation faster with one of our tax-advantaged* IRAs.
- Earn Competitive Dividends
- No Setup or Maintenance Fees
- Tax Advantages*
- Save for retirement with tax advantages1
- Competitive dividends above standard savings rates
- Traditional and Roth IRA options available
- No setup fees, monthly or annual maintenance fees
- Annual contribution limits apply (see current contribution limits; $6,000 as of 2022)1
- Additional $1,000 “catch-up” contribution allowed for ages 50+
- $500 minimum deposit to open
1Consult a tax advisor.
There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax1
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty2
- Mandatory withdrawals at age 70½
- Income limits to be eligible to open Roth IRA3
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal1
- Principal contributions can be withdrawn without penalty1
- Withdrawals on dividends can begin at age 59½
- Early withdrawals on dividends subject to penalty2
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
1Subject to some minimal conditions. Consult a tax advisor.
2Certain exceptions apply, such as healthcare, purchasing first home, etc.
3Consult a tax advisor.
Help your student prepare for college. A Coverdell ESA provides a safe, tax-free place to build savings early for education expenses — free of setup and annual fees.
- Set aside funds for your child’s education
- No setup or annual fee
- Dividends grow tax-free
- Withdrawals are tax-free and penalty-free when used for qualified education expenses1
- Designated beneficiary must be under 18 when contributions are made
- To contribute to an ESA, certain income limits apply2
- Contributions are not tax deductible
- $2,000 maximum annual contribution per child
- The money must be withdrawn by the time he or she turns 303
- The ESA may be transferred without penalty to another member of the family
- No minimum deposit to open
1Qualified expenses include tuition and fees, books, supplies, board, etc.
2Consult your tax advisor to determine your contribution limit.
3Those earnings are subject to income tax and a 10% penalty.
*Consult a tax advisor.