Individual Retirement Accounts (IRAs)
Get tax advantages by saving money for retirement.
Build your balance and your confidence, knowing you’re saving enough to enjoy retirement. Depending on your financial goals, you can create a plan to invest funds into an IRA, either before or after tax.
Types of IRAs
The type of IRA you choose, traditional or Roth, will have different tax advantages:
Contribute funds annually and potentially deduct contributions from your income taxes. Let your earnings grow tax-deferred and pay taxes later upon withdrawal. A traditional IRA has no income limitations and may be a good choice if you think your current tax rate is higher than the tax rate you’ll face in retirement, so you get the tax break when it’s more beneficial to you.
With Roth IRAs, there are no required minimum distributions, no age limit to contribute, no restrictions on employer plans, and no taxes for your beneficiaries.
You can also transfer assets from a previous, employer-sponsored retirement account plan, like a 401(k) to a traditional IRA.
Choose from FDIC-Insured or Brokerage IRA Options:
With these IRAs, you save in various money market accounts or CDs.
Brokerage IRAs (Non-FDIC Insured)
These IRAs let you diversify your retirement savings and work with Key Investment Services to choose from a wide selection of non-FDIC-Insured investment options.