Enjoy

This is a great option for those who would like to start saving early, but need more flexibility.

IRAs

With a Roth IRA, you make contributions with money on which you’ve already paid taxes. Your money can then potentially grow tax free, with tax free withdrawals in retirement, provided that certain conditions are met.

Contribution limits1 for 2015 are as follows:

  • Age 49 and under: $5,500
  • Age 50 and above: $5,500 + $1,000 catch-up

Contribution limits1 for 2014 (contribution deadline is April 15, 2014)2 are as follows:

  • Age 49 and under: $5,500
  • Age 50 and above: $5,500 + $1,000 catch-up
Key Features
Not taxed at withdrawal
Earnings grow federally tax free
No age limit
Must have employment compensation
Not required to begin taking distributions at age 70 1/2

Open a Roth IRA by Completing an Application

1 *Contribution limits based on modified annual gross income (modified AGI). Refer to IRS Publication 590 for details.

2 *The tax return filing deadline for 2014 is April 15. Refer to IRS Publication 590 for details.