| Account |
Account Snapshot |
Features |
| Traditional Individual Retirement Account |
Tax-advantage arrangement that allows earnings and deductible contributions to grow tax-deferred. |
- Earns a competitive interest rate
- Earnings grow on a tax deferred basis
- Deductible contributions and earnings are subject to federal income tax when withdrawn
- You must have earned income to contribute
- Annual contribution limits vary by year and by earned income
- Early withdrawal penalty may apply
- Fixed rate option:
- $500 minimum opening balance
- Terms available: 12, 18, 24, 36, 48, and 60 months
- Variable rate option:
- $5 minimum opening balance
- 18 month term
- Consult your tax advisor
|
| Roth Individual Retirement Account |
Unique and exciting savings opportunity that gives you an easy and safe way to plan for the future. |
- Earns a competitive interest rate
- Contributions are allowed at any age
- Qualified distributions are tax-free
- Accumulate earnings on a tax-deferred basis
- Flexible withdrawal options are available
- You must have earned income to contribute
- Annual contribution is dependent on your modified adjusted gross income as determined on your federal income tax form
- Early withdrawal penalty may apply
- Fixed rate option:
- $500 minimum opening balance
- Terms available: 12, 18, 24, 36, 48, and 60 months
- Variable rate option:
- $5 minimum opening balance
- 18 month term
- Consult your tax advisor
|
| Coverdell Education Savings Account |
A method to save for a child's secondary and post-secondary education. |
- Earns a competitive interest rate
- Available for the benefit of any child under 18 years of age
- Annual contribution is dependent on your modified adjusted gross income as determined on your federal income tax form
- All earnings accumulate on a tax-deferred basis and can be withdrawn tax-free to pay for qualified education
- Early withdrawal penalty may apply
- Fixed rate option:
- $500 minimum opening balance
- Terms available: 12, 18, 24, 36, 48, and 60 months
- Variable rate option:
- $5 minimum opening balance
- 18 month term
- Consult your tax advisor
|
