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Individual Retirement Accounts (I.R.A'S)

Traditional IRA

A Traditional Individual Retirement Account is an account that allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which they are made.

Roth IRA

The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a traditional IRA.

Educational IRA

The Coverdell Education Savings Account (CESA) is a nondeductible account that features tax-free withdrawals for a very specific purpose - a child's education expenses. This type of IRA allows a parent, legal guardian or even an entity such as a corporation or a tax-exempt organization, to make contributions (certain limits apply) on behalf of a designated beneficiary such as a child or grandchild that is under the age of 18.

Online Calculators

To learn more about these IRA opportunities, contact a Customer Service Representative by calling (731) 285-4410, (901) 837-3385 or toll free at (800) 321-3176. You can also email us at .