Retirement

Prepare today for the tomorrow of your dreams.

Roth IRAs

With a Roth IRA, the earnings on your investment are free from Federal income taxes as long as you meet certain established conditions.

• Contributions can be withdrawn anytime without taxes or penalties
• Distributions, interest and dividends are tax-free (if you are at least 59½ and the account has been established for longer than five years)
• You can contribute after age 70½ as long as you have earned income
• No required minimum distribution during your lifetime
• Tax-free distributions can be passed on to beneficiaries

• You desire tax-free earnings
• You’re saving for retirement with a 401 (k) or other employer-sponsored plan
• Your income does not exceed $166,000 for married taxpayers or $114,000 for a single taxpayer
• You may need to access your savings before retirement

Traditional IRAs

Contributing money each year into a traditional IRA is a great way to supplement other retirement savings.

• Delay paying taxes on earnings and, in some cases, on contributions until distributions are taken from the account

• You are eligible to deduct your contribution and you anticipate your tax rate at the time of distribution will be lower than your current tax rate
• Your income exceeds $114,000 (single) or $166,000 (joint)
• You want to reduce your current tax bill and are eligible to make deductible contributions (Certain conditions must be met, including income restrictions and contributions to an employer-sponsored plan)