Start planning your retirement strategy today. There are many options available.

Roth IRA

Invest after-tax dollars today and receive tax-free earnings later!

  Investment earnings grow tax-free!
  Withdrawals of interest and/or principal after five years are tax-free if you are over 59½ or will use the funds for first-time home expenses.
  No age requirements for distributions and no mandated minimum distributions.
  Eligibility to contribute is determined by income levels.

Traditional IRA

Helps you save for your future by making deposits that will generate tax-deferred interest earnings.

  Your contributions may be tax deductible in the year you make them.
  Allows rollovers from retirement or 401-K plans to shelter those funds until retirement.
  Special withdrawals are allowed (with income tax due) for:
   
  Education
  First time home buyers
  Medical expenses
  Disability or death

To open an IRA, please visit any Whitney location. Our Sales Associates will help you design a program suited to your retirement goals.

For more information, Whitney has very informative brochures about each of these IRAs. Please ask your Whitney Banker for additional information.



 
 

Learn more about Education Savings Accounts

Benefits of Whitney IRAs

Make additional deposits to your IRA plan up to the annual contribution limit.
Whitney can help you set up a monthly automatic deposit program so saving can be easier than ever.

No Origination or Maintenance Fees for Deposit IRAs
All your contributions earn interest in Whitney IRAs.

Flexible Tax Advantages Traditional IRAs allow tax-deferred earnings until you begin future withdrawals when you may be in a lower tax bracket. Allows many to enjoy a federal income tax deduction for the funds contributed to a Traditional IRA. Roth IRAs feature tax-free earnings and withdrawals.

No withdrawal penalty to change from Traditional IRA to Roth IRA
Check with your tax advisor to determine any tax implications for making this change.


IRA Deposits are separately insured from your other deposits by the FDIC

 
 

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