- Electronic Banking
- Card Services
- About Us
Pay no income tax on the contributions or the earnings until you withdraw funds. Individuals who qualify may contribute up to $5500 for 2016 or 100% of earned income, whichever is less. Individuals age 50 or older will benefit from even higher limits, allowing those closest to retirement to save even more.
A great way to diversify your portfolio. A Roth IRA is similar to a traditional IRA, but you deposit after-tax funds, some distributions are tax-free, and eligibility requirements have been expanded to allow greater funding. Tax-free earnings make a Roth IRA attractive.