• Basic IRA for anyone
• Taxes deferred until funds are withdrawn
• Possible tax deductions on contributions
• No penalty for withdrawing funds if the account holder is 59 ½ years old or older
• At age 70 ½, the account holder must begin to make annual withdrawals. The amounts are determined by government regulations

Roth IRA

• Anyone who has earned income or received alimony may contribute.
• If the account holder is 59 ½ years of age or older and the account has been open for at least five years, all withdrawals are tax free

Simple IRA

• Designed for small business employers or employees
• Contributions are only taxed when the employee with draws them

Educational IRA

• This is a nondeductible account that allows tax-free withdrawals to be made if paying for a child’s secondary education expenses.

*All of the above accounts have maximum annual contribution amounts.
See a new accounts representative for details.