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Routing #: 304982196

Individual Retirement Accounts (IRA)

IRAs offer unique savings opportunities for retirement and education.

Traditional IRA

Choose a Traditional IRA if you want to put away money for your retirement but not pay taxes on your earnings until they are withdrawn

    • Maximum annual contribution of $5,500 for 2018*
    • For owners age 50 and older, your limits increase to $6,500 for 2018*
    • Contributions may be tax-deductible*
    • Income limits may apply*

Roth IRA

Choose a Roth IRA if you want to pay the taxes on your retirement income now instead of later.

    • Maximum annual contribution of $5,500 for 2018*
    • For owners age 50 and older, your limits increase to $6,500 for 2018*
    • Regular contributions can be withdrawn tax-free and penalty-free at any time*
    • Contributions are not tax-deductible*
    • Income limits may apply*

*Your tax advisor can offer guidance on which type of IRA may be best for your needs as well as answer your questions regarding deductibility of contributions.

Coverdell Education Savings Account

Choose the Coverdell Education Savings Account if you want to save for education expenses for a child or grandchild.

  • Maximum annual contribution of $2000 per child*
  • Contributions are not tax-deductible*
  • Withdrawals for certain qualified education expenses are tax-free*
  • Qualified education expenses may include tuition, fees, books, computer equipment and technology required for elementary, secondary and post-secondary education*
  • Income limits may apply*

*Your tax advisor can offer guidance as well as answer your questions regarding deductibility of contributions, withdrawal restrictions and income limits