Individual Retirement Accounts (IRAs)

Save Tax Dollars Today . . . Build Retirement Dollars for Tomorrow!

Increase your retirement savings with an IRA from Randall-Story State Bank. 

• Traditional IRA
• Roth IRA
• Coverdell Education Savings Account

Traditional IRA

• Earnings are tax deferred until withdrawn
• Contributions may be tax deductible
• Maximum annual contribution for 2010 is $5,000
• 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

Deposits Insured up to $250,000 by the FDIC

Roth IRA

• Annual non-deductible contributions
• Maximum annual contribution for 2010 is $5,000
• Age 50 and over are allowed to make an additional yearly catch-up contribution of $1,000
• Earnings grow tax free
• Qualified withdrawals may be tax-free and penalty-free
• No age limit on contributions as long as account holder has earned income

Deposits Insured up to $250,000 by the FDIC

Coverdell Education Savings Account

A Coverdell Education Savings Account is a great investment opportunity for your child or grandchild's education.

• Money may be used for qualified educational expense such as elementary, high school, or college expenses
• Annual contributions limit of $2,000
• Earnings grow tax-free
• Contributions can be made to any beneficiary who is under the age of 18 or is a special needs beneficiary

With a Coverdell Education Savings Account, deposits are insured to at least $250,000, temporarily increased from $100,000 to $250,000 through 12/31/2013.

Consult your tax advisor regarding specific tax advantages. 

It is never too early to plan for the future.  Let us help you select the IRA that will benefit you the most.

Please contact us for more information. 515-733-4396 or info@RandallStory.com

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