IRA CD Accounts

Roth & Traditional IRA CDs

Lock in a competitive rate today and enjoy predictable growth for a secure future. While both Roth and Traditional IRAs are excellent investments to help you save for retirement each has different advantages and requirements.


Roth IRA Traditional IRA
What are the key advantages?

A Roth IRA is funded with your after-tax dollars but your earnings and withdrawals are tax-free. This can translate to big tax savings in the future.

Contributions to a Traditional IRA are tax-deductible up to certain income limits. You may pay less in taxes in the years you contribute but will pay tax when you start making withdrawals.
Who is this product best for?

This is a good option for those who expect to have a higher tax rate when they begin making withdrawals vs. when they contribute.

This is a good option for those who expect to have a lower tax rate when they begin making withdrawals vs. when they contribute.
How much can I contribute?

Up to $5,000 of earned income plus an additional $1,000 starting at age 50. This amount is the total allowable contribution you can make to both Traditional and Roth IRA plans.

Up to $5,000 of earned income plus an additional $1,000 starting at age 50. This amount is the total allowable contribution you can make to both Traditional and Roth IRA plans.
Who is eligible?

You can participate at any age if you are within the income limits and have earned income greater than your contribution.

Roth IRA Income Limits

Anyone with taxable earned income can participate up to the age of 70½; however there are income limits for tax-deductible contributions.

Traditional IRA Income Limits
When can I start making withdrawals?

You can withdraw your contributions without penalty at any time. You can begin making penalty-free withdrawals of earnings if you are at age 59½ and if your account has been open for at least 5 years.

You can begin making penalty-free withdrawals at age 59½ and you must begin taking distributions by age 70½.
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Roth IRA Income Limits

Filing Status and Modified Adjusted Gross Income: Allowable Contribution:
Single Filer Married Filing Jointly Married Filing Separately Under Age 50 Age 50 and Older
Less than $105,000 Less than $166,000 $0 Contribute up to $5,000 Contribute up to $6,000
At least $105,000 but less than $120,000 At least $166,000 but less than $176,000 Greater than $0 but less than $10,000 Contribute greater than $0 but less than $5,000 Contribute greater than $0 but less than $6,000
$120,000 and greater $176,000 and greater $10,000 and greater Contribute $0 Contribute $0
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Traditional IRA Income Limits

Filing Status and Modified Adjusted Gross Income: Allowable Contribution:
Single Filer Married Filing Jointly Under Age 50 Age 50 and Older
You Participate in an Employer Retirement Plan Only your Spouse Participates in an Employer Retirement Plan Married Filing Separately
$55,000 and less $89,000 and less $166,000 and less $0 Take a Full Deduction ($5,000) Take a Full Deduction ($6,000)
Greater than $55,000 but less than $65,000 Greater than $89,000 but less than $109,000 Greater than $166,000 but less than $176,000 Greater than $0 but less than $10,000 Take a Partial Deduction (greater than $0 but less than $5,000) Take a Partial Deduction (greater than $0 but less than $6,000)
$65,000 and greater $109,000 and greater $176,000 and greater $10,000 and greater Make only Non-Deductible Contributions Make only Non-Deductible Contributions