Individual Retirement Services

Start saving today, and make those golden years a little more golden. With an Individual Retirement Account (IRA) offered through Your Hometown Community Bank, you can contribute as you go along — the sooner you begin the greater the benefit!

With an IRA, you can enjoy tax savings* today and a larger nest egg at retirement.

• Tax-advantaged* retirement savings
• Competitive yields exceeding standard savings rates
• Traditional and Roth IRA options available
• No set-up fees
• No monthly or annual maintenance fees
• $5,500 contribution limit per year
• Additional $1,000 contribution allowed for ages 50+
• Penalties for early withdrawal apply

*Consult a tax advisor.

Traditional vs. Roth

Traditional and Roth IRAs each offer unique tax advantages to help you expedite your retirement saving. What's the difference? Compare below and consult a tax advisor to see what type of IRA is right for you and your family.

Traditional IRA

• No income limits to open
• No minimum contribution in any year
• Contributions are tax deductible on state and federal income tax*
• Earnings are tax deferred until withdrawal
• Withdrawals can begin at age 59½
• Early withdrawals subject to penalty**
• Mandatory withdrawals at age 70½

Roth IRA

• Income limits apply
• Contributions are NOT tax deductible
• Earnings are 100% tax-free at withdrawal*
• Contributions may be withdrawn at any time without penalty*
• Withdrawal of interest can begin as early as age 59½
• Early withdrawal of interest subject to penalty**
• No mandatory distribution age
• No age limit on making contributions as long as you have earned income

*Subject to conditions. Consult a tax advisor.
**Certain exceptions apply. Consult a tax advisor.