In the Taxpayer Relief Act of 1997, Congress changed the laws governing tax deductibility of retirement savings. As a result, there are more ways to save for the future by taking advantage of tax deferred growth of your savings.

Traditional IRA Certificates of Deposit:
It is now possible to take penalty-free distributions for qualified expenses for education and first-time home purchases. It is also easier for spouses to contribute to an IRA.

Featuring:

• Many standard term Certificates of Deposit can be opened as a traditional IRA
• Available for new IRAs or for Rollovers
• Maximum annual contributions*
  • $4000 ($5,000 for individuals age 50 and over)
• Insured by the FDIC up to $250,000
• Competitive rates
• No monthly or annual fees
• Funds may be added at maturity

*To determine the deductibility of a contribution a tax advisor should be consulted.

Roth IRA Certificate of Deposit:

This alternative to a traditional IRA offers more flexibility when investing for retirement.
A Roth IRA allows you to make qualified withdrawals of earnings without paying taxes or penalties.

Featuring:

• Many standard term Certificates of Deposit can be opened as a Roth IRA
• Maximum annual contributions*
  • $4,000 for single filers with adjusted gross income $99,000 or less
    ($5,000 for individuals age 50 and over)
  • $4,000 for each joint married filer with adjusted gross income below $156,000
    ($5,000 for individuals age 50 and over)
• Available for new IRAs or for Rollovers
• Insured by the FDIC up to $250,000
• Competitive rates
• No monthly or annual fees
• Funds may be added at maturity

  *Consult with your tax advisor for reduced contributions for higher income levels

Featuring:

• Can be opened as a Traditional IRA or a Roth IRA
• The option to make additional deposits in $10 increments for any total amount at any time
  (not to exceed maximum annual contribution limits)
• Maximum annual contributions the same as Traditional* or Roth IRA's
• Insured by the FDIC up to $250,000
• Competitive rates
• No monthly or annual fees

  *To determine the deductibility of a contribution a tax advisor should be consulted.