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View IRA Rates

Roth IRA

  • Contributions are not tax deductible. Qualified withdrawals are tax-free.
  • Earnings grow tax-deferred.
  • Withdraw contributions tax-free any time. Withdraw interest earned free of any IRS penalties after five years for qualified reasons or for any purpose after the age 59 1/2.
  • Contributions can be made after age 70 1/2 (if eligibile).
  • Unlike Traditional IRAs, distributions are not required at age 70 1/2.
  • Transfer funds from existing Traditional IRAs to a new Conversion Roth IRA (subject to taxation).
  • This is a fixed rate option.

Traditional IRA

  • Contributions may be tax deductible. Qualified withdrawals are taxable income.
  • Contributions to a Traditional IRA may be fully or partially deductible depending on your income level and whether or not you are considered an active participant in an employer-sponsored plan.
  • Earnings are tax deferred until withdrawn.
  • Withdrawals before age 59 1/2 may be made without penalty (if eligible)
  • Required Minimum Distributions at age 70 ½.
  • Choose fixed or variable rate options.
IRA Contribution Limits per Year
Year Age 50 & Below Age 50 & Above
2020 $6,000 $7,000