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IRA's

Traditional IRA and Roth IRA Accounts

Invest your savings for safe growth in an IRA account. Choose between a fixed rate on Advantage CDs or a variable rate on savings accounts.

  Traditional IRA Roth IRA
Tax Deductions
 Contributions are fully deductible if you or your spouse are not active participants in an employer sponsored retirement plan. Otherwise contributions are subject to Modified Adjusted Gross Income (MAGI). Contributions are not tax-deductible.
Best for you if: You expect to be in a lower income tax bracket in retirement.
You don’t qualify for a Roth IRA because of your income level.
 You anticipate remaining in your current tax bracket, or expect to be in a higher tax bracket after retirement.
Eligibility Under age 70 1/2 with earned income. Any individual with earned income, subject to Modified Adjusted Gross Income (MAGI) limitations.
What can I invest in? CD or Savings.
CD or Savings. 
Your profile: Conservative Conservative
Terms: CDs maturing between 32 days to 5 years. Savings accounts have no maturity date. CDs maturing between 32 days to 5 years. Savings accounts have no maturity date.
Contribution limits: 2011
Less than age 50:  $5,000
Age 50 and over by Dec. 31:  $6,000

2012
Less than age 50:  $5,000
Age 50 and over by Dec. 31:  $6,000 		2011
Less than age 50:  $5,000
Age 50 and over by Dec. 31:  $6,000

2012
Less than age 50:  $5,000
Age 50 and over by Dec. 31:  $6,000
Early withdrawals:
Distributions may be subject to a 10% federal early-withdrawal penalty unless distributions are made for specific qualified purposes (consult a tax advisor).
 Withdrawals of contributions are federal income tax-free and penalty-free. Withdrawals of earnings are tax-free and penalty-free if made after five years and contributor is age 59 1/2 or they are used for certain qualified withdrawals (consult a tax advisor).
Required minimum distribution
Must begin at age 70 1/2.
Not required at any age for the contributor during their lifetime.