Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRAs)

The difference between knowing where you want to be and actually getting there is having a good plan. At Keystone Bank, we offer both traditional and Roth IRA options to help you build a solid financial plan for your future.

Start saving now so your golden years can be everything you imagined they could be. A Keystone IRA can put you on the right financial path.

Summary
  • Set aside funds for retirement
  • Earn interest on entire balance
  • Traditional or Roth available
  • Tax free or tax deferred options
  • Contribution and withdrawal limits apply
Traditional IRA

    This IRA option offers you tax deductible contributions up to certain income limits, allowing you to take full advantage of the compounding interest. Taxes do have to be paid at distribution, however.

    • No annual fee or setup charges
    • Anyone under age 70½ can open
    • Earnings accumulate tax-deferred
    • Contributions are tax deductible
    • $5,000 contribution limit per year
    • Additional $1,000 "catch-up" contribution allowed for ages 50 and up
    • Withdrawals can begin at age 59½
    • Early withdrawals subject to penalty*
    • Mandatory withdrawals at age 70½

    *Certain exceptions apply.

    Roth IRA

    With this IRA option, all contributions are made with after-tax dollars. Deductions are not tax deductible, but your interest will grow tax free, and there will be no tax payments at distribution.

    • No annual fee or setup charges
    • Earnings and principal are tax free upon withdrawal
    • Contributions are not tax deductible
    • $5,000 contribution limit per year
    • Additional $1,000 "catch-up" contribution allowed for ages 50 and up
    • Principal may be withdrawn penalty-free at any time
    • Earnings can be withdrawn penalty-free at age 59½
    • Early dividend withdrawals subject to penalty*
    • No mandatory distribution age

    *Certain exceptions apply.

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