IRAs
Individual Retirement Accounts (IRAs) & Profit Sharing Plans
We offer Traditional, ROTH and Coverdell Education IRAs. You the investor have a variety of plans available for your retirement financial planning. We can answer your questions and help you find the IRA plan or combination of plans that best suit your needs. We even have convenient automatic investment options.
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Traditional IRA |
Roth IRA |
Coverdell Education Savings Account |
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Who’s Eligible? |
People not covered by an employer’s retirement plan |
Based on income, may participate in employer’s plan |
Beneficiaries under age 18 (Education IRAs cannot accept contributions on behalf of beneficiaries older than 18) |
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Key Feature |
Tax-deferred investment and earnings growth |
Tax-free investment growth |
Tax-deferred growth of investment earnings; tax-free withdrawal for qualified education expenses |
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Contribution Limit |
Pre-tax 2013: $5,500 |
Post-tax 2013: $5,500 |
Up to $2,000 per year (except for rollovers from other Education IRAs); subject to income limitations |
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Tax Deductible Contributions |
Yes, depending on income |
No |
No |
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Must Start Taking Withdrawals by
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Age 70 ½ |
N/A |
Age 30 (remaining funds may be rolled into a Coverdell Account for another beneficiary) |
| Try this helpful IRA Calculator located at http://www.dinkytown.net | |||
Contact us for further information or any IRA related questions!
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