• Must have earned income
• Annual or periodic contributions allowed
• Choice of terms for your investment, fixed or variable rate
• Contributions are allowed up to the tax filing date, excluding extensions
• Tax-free rollovers and transfers*
• No setup or annual service charges
• Various payout options for owners and beneficiaries

*Consult your tax advisor or financial planner for more information.

If you’re under 70 ½ years of age, consider the Traditional IRA. Contributions are tax-deductible (subject to certain Modified Adjusted Gross Income limitations) and interest earned is tax-deferred. Enjoy penalty-free distributions after age 59 1/2. You can actually get penalty-free distribution to pay certain higher education expense or for first-time home purchases.

• Limited to individuals under 70½ years of age
• Tax-deductible contributions subject to Modified Adjusted Gross Income (MAGI) limitations.
• Interest is tax-deferred
• Penalty-free distributions at age 59½, higher education expenses or first-time home buyer (additional reasons apply), death, and disability.
• Mandatory distribution requirements begin at age 70½

• No age requirements
• Contributions subject to Modified Adjusted Gross Income limitations
• Qualified distributions are penalty and tax-free if funds meet a five year holding period at age 59½ or first time home buyer
• No mandatory distribution requirements

• Used for qualified primary, secondary, and higher education expense
• Contributor must meet MAGI limitations
• Designated beneficiary must be under 18 years of age
• Funds must be distributed by age 30
• Unused funds may be rolled over to other qualifying family members

*Formerly referred to as Education IRA.