Retirement / IRAs

Individual Retirement Accounts Whether you are saving for your retirement, funding your business’s retirement plan or saving for your child’s college education, we offer the following…

  • Traditional IRAs: Plan for retirement with tax-deductible contributions (depending on income level).
  • Roth IRAs: Receive tax-free distributions during retirement when you withdraw funds.
  • Coverdell Education IRAs: Save for a child’s education and withdraw funds tax-free when they are used for education expenses.
  • Simplified Employee Pension Plans (SEP): A SEP plan allows employers to contribute to traditional IRAs (SEP-IRAs) set up for employees. A business of any size, even self-employed, can establish a SEP.
  • Simple IRAs: This plan can provide a significant source of income at retirement by allowing employers and employees to set aside money in retirement accounts. Simple IRAs plans do not have the start-up and operating costs of a conventional retirement plan.

We can open your new IRA with a current or prior year contribution and accept all transfers and direct/indirect rollovers from other Financial Institutions or Qualified Retirement Plans. Please contact a Personal Banker for assistance with any Retirement / IRA related questions.

Consult your tax professional for more information on contribution limits and deductions.