-
Overview
Retirement Accounts (IRA)
Worried about your nest egg for retirement? Open an IRA (Individual Retirement Account) with a higher dividend rate that compounds monthly to grow your retirement savings even faster.
With no annual contribution needed and industry-competitive rates to maximize every dollar you invest, you get tax-deferred dividends and tax deductions that work toward a better retirement.
We offer Traditional IRAs and Roth IRAs. See what types of assets qualify for a tax deduction and how the IRS treats your investment by visiting their contribution information page. Always consult with a tax advisor before investing.
A tax advantaged savings account to prepare for retirement
- Possible tax advantages, either with earnings or contributions
- Annual contributions not required
- No annual fees
- Opportunity for tax-deferred retirement funds
A Geist MSR received flowers and a card. "To a GREAT banker, thank you so much for your help."
- D. B.Additional Information
Traditional IRA
- Contributions may be tax-deductible for “active participants” on an employer sponsored plan.*
- Dividends are tax deferred if you take qualified distributions.
- Traditional IRA Details from the IRS – check here for additional withdrawal and contribution information.
Roth IRA
- Roth IRA’s differ from Traditional IRA’s in that contributions are not tax-deductible, but the interest and earnings can offer tax advantages.
- There is no mandatory distribution age.
- After 5 years, tax advantages on your earnings and principal begin.
- Roth IRA details from the IRS – check here for additional withdrawal and contribution information.
Disclosures
*Consult with a tax advisor about this and other aspects of IRAs. Deductibility is available on a sliding scale according to your income.
-
Rates
Individual Retirement Account Rates
Account Type Min. Opening Bal. Min. Bal. to Earn Dividends Dividend Rate APY* Traditional IRA
$0.00 $0.01 0.15% 0.15% Roth IRA
$0.00 $0.01 0.15% 0.15% Conversion Roth IRA
$0.00 $0.01 0.15% 0.15% *Annual Percentage Yield. Refer to our Pricing Guide (PDF) for all fees. Fees may reduce earnings. Rates are subject to change at any time. Current as of 27 January 2023.
-
Calculator
This calculator is not supported for Internet Explorer. Please use an alternate browser, such as Edge, Firefox or Chrome. Alternatively, try this simple Retirement Calculator.
-
FAQ
Frequently Asked Questions
-
Can I move money from one IRA to another IRA that I own?
Yes. A transfer or rollover between your IRAs is always tax-free and can be done regardless of your income, as long as they are the same type of IRA. If you own both a Roth and a Traditional IRA, they can also be rolled together in a conversion, but there may be tax consequences. We recommend talking with a competent tax advisor before taking action.
-
Can I own and contribute to both a Traditional and a Roth IRA?
Yes. You can contribute to both types of IRAs for the same year. However, the total of the contributions that you make to both types of IRAs for the same year cannot exceed your annual contribution limit. Consult your tax advisor to decide on a plan that is right for you.
-
Can I contribute to a Traditional or a Roth IRA and still contribute to an employer-sponsored retirement plan?
Yes. Your participation in an employer-sponsored retirement plan will not affect your ability to contribute to a Traditional or a Roth IRA, assuming age and compensation requirements are met.
In the case of a Traditional IRA (and depending on your income level) if you do receive contributions from an employer on a different plan, you may lose the ability to deduct your Traditional IRA contributions.
-
Can I move money from one IRA to another IRA that I own?
Home Retirement Accounts (IRA)