Individual Retirement Accounts (IRAs) 
 

Increase your retirement savings with an IRA.   Let us help you select the IRA that best fits your investment goals.

Traditional IRA

• Contributions may be tax deductible*
• Maximum annual contribution of $5,000 or 100 percent of earned income, whichever is less 
• Funds are deposited into a certificate of deposit
• Earnings are tax deferred until withdrawn
• Age 50 and older are allowed to make an additional yearly catch-up contribution of $1,000 
• 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

Roth IRA

• Maximum annual contribution of $5,000 or 100 percent of earned income, whichever is less
• Funds are deposited into a certificate of deposit
• Age 50 and over are allowed to make an additional yearly catch-up contribution of $1,000
• No age limit on contributions as long as account holder has earned income
• Offers a tax structure unlike any other IRA with after-tax contributions and tax-free growth*
• Qualified withdrawals may be tax-free and penalty-free

Coverdell Education Savings Account 

• Maximum annual contribution of $2,000
• Funds are deposited into a certificate of deposit
• Great investment for your child or grandchild's education
• Money may be used for elementary, high school, or college expenses  
• Earnings grow tax-free
• Contributions can be made to any beneficiary who is under the age of 18

* Consult your tax advisor regarding specific tax advantages. 

An annual IRA Fee of $25 will be assessed every May 1st, if your aggregate total of IRA balance falls below $5,000.  This applies to Traditional, Roth, SEP, Simple, and Beneficiary IRAs.  Fee does not apply to customers who are in required minimum distribution status.

Withdrawals from your Traditional IRA before you reach age 59 1/2 will generally result in an additional tax of 10% of the taxable amount withdrawn.

Substantial penalty for early withdrawal of Certificates of Deposit.

Deposits Insured up to $250,000 by the FDIC

It is never too early to plan for the future.  Select the IRA that will benefit you the most.  Please contact us for more information by calling 515.733.4396 or email info@RandallStory.com  .

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