IRA Accounts

Individual Retirement Accounts (IRA)

Roth IRA: Retirement savings vehicle where you make contributions on an after-tax basis, and earnings grow free of federal taxes. This means you don’t get a tax deduction now, but you won’t need to pay taxes on the earnings later. There are income limits for making a contribution (for 2015, up to $131,000 for single filers and up to $193,000 for joint filers). See irs.gov for more information.

Traditional IRA: Retirement savings vehicle where you may be able to deduct your contributions from your current taxes, and earnings grow tax-deferred until retirement. There are no income limits for making a contribution. See irs.gov for more information.

Coverdell ESA (Educational Savings Accounts):  Savings for a child’s education expenses, such as tuition, fees, books, supplies, equipment, and, in some cases, room and board.  You make nondeductible contributions that provide the potential for tax-free withdrawals- including earnings down the road.  See irs.gov for more information.

IRA Variable Rate

Balance	APY*	Interest
No Minimum	0.25%	0.25%