Personal Retirement Accounts

Individual Retirement Account (IRA)

Designed to help you accumulate the nest egg you need for your golden years
– or – to manage your retirement rollover account.

No minimum balance required
No opening fees
One month to five year maturities for Certificates of Deposit
FDIC Insured
Semi-annual statements provided

A Traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Certain contributions are tax deductible in the tax year they are made. Deductibility of your contribution is based on IRS guidelines. All earnings on your traditional IRA remain tax deferred until you make withdrawals, which are taxed as income during the tax year of their withdrawal.

The Roth IRA is a non-deductible account that features tax-free withdrawals for certain distribution reasons after five years. To qualify for a ROTH IRA, you must have earned income (or your spouse must have earned income). You may contribute any amount up to 100% of our compensation or $5,000 (whichever is less), as long as your Modified Adjusted Gross Income is within the limits established by the government.

There are substantial penalties for early withdrawal. Deposits are insured up to $250,000.

Our Retirement Specialists are ready to answer any questions you may have regarding Individual Retirement Accounts and how Wauchula State Bank can help you!

Please consult your tax adviser concerning your particular situation.

Wauchula State Bank

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