- A Tax-Free Way to Save: the Roth IRA
- The Traditional IRA
- Catch-Up Contributions
- Will My Contribution Be Deductible?
- The Traditional IRA vs. the Roth IRA
- What Type of Assets Can You Contribute to Your IRA?
- Setting up an IRA
- Investment Considerations for Your IRA
- When Is the Best Time to Contribute?
- Spousal IRAs
- Advantages and Disadvantages of IRA Accounts
- Rollovers to Your IRA
- Converting a Traditional IRA to a Roth IRA
- Roth IRA and 401(k)
- Choosing between the Roth IRA and Other Vehicles
- Roth IRA Conversions
In addition to regular IRA contributions as described above, special catch-up contributions can be made annually to both traditional and Roth IRAs if you are at least age 50 by the end of the calendar year. For individuals who meet this age requirement, the regular contribution is increased by $1,000 in 2020 (same in 2019). This catch-up contribution is based solely on your age, and is not affected by the amount of contributions you have made to an IRA in the past.
Your choice of whether or not to invest in an IRA will be influenced by whether or not your contribution is tax-deductible. If you're a low- or middle-income taxpayer, part of your IRA contribution may be eligible for a tax credit. See the section Choosing between the Roth IRA and Other Vehicles.
- ARE NOT A DEPOSIT
- ARE NOT FDIC-INSURED
- ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
- ARE NOT GUARANTEED BY THE BANK
- MAY GO DOWN IN VALUE
Important information about procedures for opening a new account
To help the government fight the funding of Terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means to you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Investment products are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Insurance products offered through Osaic Institutions, Inc.
