Tax-free growth for your retirement

Tap into the IRA advantage

An IRA (Individual Retirement Account) lets you save money for retirement tax-free until you are ready to withdraw it. You can set a fair amount of money aside each year and watch it grow. All withdrawals are taxable.

We currently have traditional IRAs available, as well as an IRA certificate of deposit (CD), which lets you earn a higher rate in return for leaving your money untouched.

Withdrawal rules for IRAs

The rules surrounding withdrawal can vary depending upon your age, with penalties applying for withdrawal before the retirement age of 59 ½. However, some exceptions allow for penalty-free withdrawals.

For example, if you decide to purchase a house or receive disability benefits, your withdrawal will be penalty-free.

What is a Roth IRA?

A Roth IRA is an individual retirement account under United States law that is generally not taxed upon distribution, provided certain conditions are met.

Arsenal members have access to a financial advisor who can help them determine if a Roth IRA is the best investment vehicle for their future.

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