An IRA is essential to any retirement strategy. Start saving for your endless vacation — one tax-advantaged* contribution at a time.

Key Features

  • Traditional or Roth Plans
  • Attentive Service
  • Tax Advantages*
  • Save for retirement with tax advantages*
  • Traditional and Roth IRA options
  • No setup fees
  • Annual contribution limits apply (see current contribution limits; $6,000 as of 2020)*
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • $1,000 minimum deposit to open

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty2
  • Mandatory withdrawals at age 70½

Roth IRA

  • Income limits to be eligible to open Roth IRA3
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty2
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

1Subject to some minimal conditions. Consult a tax advisor.

2Certain exceptions apply, such as healthcare, purchasing first home, etc.

3Consult a tax advisor.

*Consult a tax advisor.

Securities and Advisory Services offered through Cadaret, Grant & Co., Inc., a Registered Investment Advisor and Member FINRA/SIPC. Maple City Financial Services, Maple City Savings Bank and Cadaret, Grant & Co., Inc. are separate entities. Not a deposit-Not guaranteed by the Bank, FDIC, or other government agency- May lose value.