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Traditional IRAs

 Enjoy tax-deferred growth with a Traditional IRA.

​A Traditional IRA offers a great way to start saving for retirement. You pay no taxes on your earnings until you withdraw them, and your contributions are potentially tax-deductible. Anyone with earned income can contribute to Traditional IRAs, and they're a great way to start saving for retirement or to supplement your employer's retirement plan. PlainsCapital IRAs guarantee steady growth of your savings.
 
Features
  • Earnings aren't taxed until withdrawn
  • Contributions may be tax-deductible
  • Mandatory distributions begin at age 70 1/2
  • Choose a one- to five-year, fixed-rate certificate of deposit
  • Accepts rollovers from other IRAs and employer retirement plans
  • FDIC insured up the maximum amount allowable by law
Eligibility
  • You must earn compensation (or your spouse must earn compensation if you file a joint tax return)
  • You can't contribute if you'll have reached 70 1/2 by the end of the year
Requirements
  • Minimum deposit is just $100
  • Contributors under age 50 may contribute up to $5,000 in 2008 and 2009
  • Contributors age 50 or older may contribute up to $6,000 in 2008 and 2009
  • Contributions cannot exceed compensation
 
Please consult your tax professional for tax rules regarding IRAs.