INDIVIDUAL RETIREMENT ACCOUNTS (IRA)
Traditional IRA
Put more into retirement and less into taxes with an IRA with us. Both you and your spouse may potentially contribute up to $4,000 into an IRA if you or your spouse has earned income. Individuals who are ago 50 or older may be eligible to contribute an additional amount as a catch-up contribution.
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Roth IRA
The Roth IRA allows tax-free “qualified withdrawals.” The required minimum distribution rules do not apply with the Roth IRA, which allows this IRA to also serve as an estate planning tool. You can convert your existing traditional IRA to a Roth IRA, subject to full taxation.
Direct Rollovers / Transfers
If you are about to receive a lump sum distribution from your current pension or profit-sharing plan, you should consider an IRA Direct Rollover. You can use an IRA Transfer to move an existing IRA at another financial institution to Evergreen State Bank.
Simplified Employee Pension (SEP) Plan
A SEP is a retirement plan established by an employer. The employer may contribute a percentage of any eligible employee’s compensation annually. This does not eliminate contributing to a regular IRA if eligible.
One of our Retirement Planning Specialists would be pleased to answer your questions and assist you with your retirement planning needs.
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