IRAs provide a great way to build retirement savings. We offer access to both traditional and Roth IRAs.
Whether you are just beginning to save for retirement or you already have a retirement plan in place — an Individual Retirement Account (IRA) can be a smart and easy way to save as part of your overall retirement plan.
IRAs combine two powerful forces — compounded interest and tax-deferred interest1 — and are available in a variety of forms:
- Traditional IRAs allow your investment earnings to grow tax-deferred, so you pay taxes only when you withdraw funds. Plus, contributions made to your Traditional IRA may be tax deductible in the year they are made.1
- Roth IRAs allow your investment earnings to grow tax-deferred, and all withdrawals are federal income tax and penalty-free, including earnings — assuming you are over 59 1/2 years old and your account has been open for at least five tax years when you make your withdrawals. Unlike Traditional IRAs, not everyone qualifies for a Roth, and contributions to Roth IRAs are never deductible.1
- SEP and SIMPLE Retirement Plans are low-cost retirement plans for small businesses and the self-employed. If you are a small business owner, these types of IRAs may be right for you.