Rates

Save time while saving for retirement when you take advantage of tax-advantaged savings* today. Open an IRA and give your future self a clear, easy-to-follow path to retirement — and steer clear of "should've, could've, would've" regret.

The sooner you start planning for retirement, the sooner you can, you know, actually retire. Don't risk working well into your golden years — get started today.

Details
  • Tax-advantaged retirement savings*
  • Competitive interest above standard savings rates
  • Traditional and Roth IRA options
  • No setup fees
  • No monthly or annual maintenance fees
  • $5,500 contribution limit per year
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • $100 minimum deposit to open

*Consult a tax advisor

Traditional vs. Roth

Traditional and Roth IRAs both offer tax incentives* to ease the strain on your retirement saving. How do they work? See this quick breakdown to highlight distinct differences between the two. And consult a tax advisor to determine which IRA is right for you.

Traditional IRA

  • No income limits to open
  • No minimum contribution in any year allowing flexibility
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70½

Roth IRA

  • Adjusted gross income must be less than $125,000 to contribute ($183,000 for joint filers)***
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • No mandatory distribution age
  • No 70½ age limit on making contributions as long as you have earned income

*Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

***As of 2012; IRS may change figure annually.