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Retirement Accounts

Are you looking for a flexible yet effective way to put away money for your retirement?  Take a look at FSB’s Traditional & Roth IRA accounts and take your first step toward building a more secure future for you and your family.  Both IRA's are treated as a certificate of deposit, with a competitive variable interest rate that pays every calendar quarter.  Once you have consulted your tax or legal professional for guidance, contact us to start saving for the future. 

Traditional IRA Roth IRA
Tax Benefits Tax-deferred earnings &
Tax deductible contributions
Tax-free earnings &
Tax-free withdrawals
Minimum to Open $500.00 $500.00
Eligibility
  • You must have earned income equal to or greater than your contribution
  • You must be under age 70 1/2
  • You must have earned income equal to or greater than your contribution
  • Your modified adjusted gross income must fall within the limits prescribed by the IRS
Maximum Contribution $5,000 annually
($6,000 if 50 or older)
$5,000 annually
($6,000 if 50 or older)
Required Minimum Distributions After age 70 1/2

None

Contribution Deadlines Generally April 15th of the following year for any given tax year Generally April 15th of the following year for any given tax year

 

* prior to age 59 1/2

Member FDIC,  EqualHousingLogoTrans15 Equal Housing Lender

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