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.
- Earnings aren’t taxed until withdrawn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
- 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
- Minimum deposit is just $100
- Contributors under age 50 may contribute up to $5,500 in 2016 and 2017
- Contributors age 50 or older may contribute up to $6,500 in 2016 and 2017
- Contributions cannot exceed compensation
Please consult your tax professional for tax rules regarding IRAs.