Retirement Accounts

Start saving today for a more secure retirement. Our federally insured Traditional and Roth IRAs are an excellent supplement to your employer’s pension/retirement program. Each offers its own potential tax benefit. Consult your tax professional to determine which IRA is best for your needs.

Contributions are made with after-tax assets, all transactions within the IRA have no tax impact, and withdrawals are usually tax-free. Named for Senator William V. Roth, Jr.. The Roth IRA was introduced as part of the Taxpayer Relief Act of 1997.

Contributions are often tax-deductible (often simplified as “money is deposited before tax” or “contributions are made with pre-tax assets”), all transactions and earnings within the IRA have no tax impact, and withdrawals at retirement are taxed as income (except for those portions of the withdrawal corresponding to contributions that were not deducted).

Additional Information on Retirement Accounts

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