Individual Retirement Account (IRAs)

Because we are dedicated to helping you save for the future, we offer several IRA options for your retirement. Please call or email us for assistance or visit any of our convenient Southern Indiana locations for complete disclosure of account terms and Annual Percentage Yield information. Traditional IRA Contributions may be tax deductible Must have earned income and under age 70 ½ for eligibility of contribution Ages 50 or older at end of tax year are eligible for catch-up contribution Distribution may be subject to taxation and penalty if not disbursed for qualified reasons Earnings are tax-deferred until withdrawn Consult with tax professional for guidance concerning contributions and distributions Roth IRA Non-Deductible contributions Must have earned income and cannot exceed the modified adjusted gross income for eligibility of contribution Ages 50 or older at end of tax year are eligible for catch-up contributions Tax-Free, Penalty-Free distributions when withdrawn for qualified reasons Not subject to 70 ½ required minimum distributions Consult with tax professional for guidance concerning contributions and distributions Coverdell Education IRA Non-Deductible contributions Contributions allowed until the year child turns 18 Can make contributions to one or more children per year Total contribution cannot exceed $2000.00 a year per child Tax-Free, Penalty-Free distributions when withdrawn for qualified education expenses Consult your tax professional for guidance concerning contribution and distributions Internal Revenue Service