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Save for retirement today with a Traditional IRA, and defer taxes on contribution earnings until you withdraw funds in retirement. We’ll work with you to set up an IRA that works toward your savings goals and delivers peace of mind for your retirement.
| Tax Year | Contribution Limit | Catch-up Limit | Total Limit for Age 50 and Over |
|---|---|---|---|
|
2020 |
$6,000 |
$1,000 |
$7,000 |
|
2021 |
$6,000 |
$1,000 |
$7,000 |
IRAs are Individual Retirement Accounts.
When Social Security and pension plans are not enough to maintain your standard of living at retirement, an Individual Retirement Account (IRA) can be an excellent investment. Both the Roth and traditional IRA offer a number of benefits, depending on your current financial situation.
Your beneficiaries will be notified and funds will be distributed accordingly.
The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. If you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA, since contributions are nondeductible and taxed in the year they are earned.
You may also choose between an IRA Certificate with a specific term, an IRA Share Account or an Investment Money Market Account.
You must be a member of Wings (with a Primary Share Account) prior to opening a Retirement Account. If you are not currently a member, open your account online or download a membership application.
Share Savings
High-Yield Savings
Custodial Accounts
Money Manager
Coverdell Education Savings Accounts (CESA)
IRA Savings Accounts
Get details and guidance about savings, checking, loans and more. We’ll help you take the next step forward, together.
