Individual Retirement Accounts at Slavie
Having an income plan may be one of the most important things you can do to make the most of your retirement. Many people use IRAs (Individual Retirement Accounts) to accomplish this.
IRAs have several variations. The original IRA (sometimes called an ordinary or regular IRA, and not a Roth IRA or a SIMPLE IRA) is most often called a "traditional IRA." Such a plan gives two main advantages:
- You may be able to deduct some or all of your contributions to it
- Amounts in your traditional IRA (including earnings and gains) are not taxed until distributed.
To learn further details about the differences between traditional IRAs, Roth IRAs, SEP-IRAs, Deemed IRAs, and SIMPLE IRAs, and the rules for taxation of these plans, please consult Publication 590, Individual Retirement Arrangements (IRAs), of the Internal Revenue Service. For more information, click here.
Slavie Individual Retirement Account Get Rates!
Your Slavie Federal Savings Bank professional will be glad to help you open a traditional IRA. Our IRAs feature:
- Terms from 6 months to 60 months
- Minimum deposit to open $100.00
- Minimum contributions of $100.00
- Fixed rate for term of the retirement account
- Interest compounded daily and credited monthly