All contributions to a Roth IRA and assets converted from a Traditional IRA are made with after-tax dollars. That means you don’t get to write off contributions as a deduction. But, because you’ve already paid the taxes, interest grows tax free, meaning you pay nothing when you withdraw funds from your accumulated earnings at retirement.

 

No annual fee or setup charges

Earnings and principal are tax free upon withdrawal

Contributions are not tax deductible

Call us for the maximum contribution limit this year

Additional “catch-up” contributions allowed for ages 50 and up

Early withdrawals of earnings are subject to penalty*

No mandatory distribution age

*Certain exceptions apply.


Jenny Woods

Senior V. P. & Senior Accounts Officer

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Jody Steinke

Personal Banker & Teller - Supervisor

Email Jody