An Individual Retirement Account can help pave the way to a relaxing retirement!
IRA Options
- Traditional IRA
- Roth IRA
- Simple IRA
- SEP (Simplified Employee Pension Plans)
- Profit Sharing Plans
Variable Rates
- Funds are invested in a Personal Savings account
- Interest compounds daily and is credited monthly
- Deposits can be added at any time
- The rate is variable and is subject to change daily
Fixed Rates
- Funds are invested in a Certificate of Deposit (CD)
- Rate is determined at account opening and is fixed for the initial term of the CD. The rate may change upon maturity.
- Interest is compounded and credited quarterly
Maximum Annual Contributions
Under the age of 50
2023 Tax Year - $6,500.00
2024 Tax Year - $7,000.00
Age 50 and Over
2023 Tax Year - $7,500.00
2024 Tax Year - $8,000.00