IRA

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Individual Retirement Account (IRA)

About Swisscrips Individual Retirement Account (IRA) .

Take control of your IRA

With an IRA from Our Bank, you get secure, completely-insured investment options with a manageable initial investment. Just select the IRA that fits your investment goals.

Traditional

  • * Earnings are tax deferred until withdrawal
  • * Annual contributions of $6,000 ($7,000 if age 50 or older)
  • * Contributions may be tax deductible
  • * Created for individuals who do not participate in employer-sponsored retirement plans
  • * Certain individuals who do participate in employer-sponsored retirement plans may still qualify
  • * Mandatory minimum distributions at age 70 and a half
  • *Contact your tax professional regarding deductibility.

  • Roth
  • * Offers a tax structure unlike any other IRA, with after-tax contributions and tax-free growth.
  • * Annual contributions of $6,000 ($7,000 if age 50 or older).
  • * Withdraw money from your Roth IRA at any time without paying taxes up to the amount of your contributions.
  • * Qualified withdrawals are not taxable
  • * No mandatory minimum distributions at age 70 and a half
  • *Contact your tax professional regarding deductibility.
  • *If you take distributions within the first five years you will receive a 10% penalty on the distribution amount.
  • Stop by online and open an IRA that fits your investment goals today.

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