Individual Retirement Accounts (IRA)


Individual Retirement Accounts

Click here for our IRA Rates



  • 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 to buy a first home or for any purpose after the age 59 1/2.
  • Contributions can be made after age 70 1/2.
  • 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  • Earnings are tax deferred until withdrawn.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 to help finance a higher education or your first home.
  • Required Minimum Distributions at age 70 ½.
  • Choose fixed or variable rate options.

Health Savings Account (HSA) - Why launch an HSA?

*Be sure to consult with a competent tax advisor regarding if an HSA is right for you and regrading your HSA deductions and how to claim tax-free HSA distributions.

  • Tax-free distributions - if qualified
  • Tax-deferred earnings
  • Tax deductions
  • Accessibility to HSA assets
  • Balance carried over from year to year
  • Yours wherever you go
  • Control of contributions and investments
  • Additional source of retirement income
  • Lower insurance premiums on High Deductible Health Plans (HDHP)


IRA Contribution
Limits Per Year
Age 50 & Below Age 50 & Above
2018 $5,500 $6,500
2019 $6,000 $7,000


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