Individual Retirement Account

Individual Retirement Account (IRA)

Get tax incentives and grow your retirement income with the Individual Retirement Account (IRA) to help you meet your financial goals.

Traditional IRA – Contribute to your retirement fund with pre-tax earnings, penalty-free withdrawals (with some restrictions) and required distribution starting at age 70.

Roth IRA – Contribute to your retirement fund with after-tax earnings and enjoy the benefit of no required withdrawals at any age.

SIMPLE IRA (Savings Incentive Match Plan for Employees) – Designed for small businesses, this plan allows employers and employees to contribute to traditional IRAs and save for retirement.

SEP IRA (Simplified Employee Pension Plan) – Designed for businesses of any size including the self-employed, a SEP does not have the start-up and operating costs of a conventional retirement plan and allows for a contribution of up to 25 percent of each employee’s pay.