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Explore a smart way to save for retirement

A Roth IRA lets you grow your retirement savings and enjoy tax-free retirement withdrawals**. Unlike a traditional IRA, contributions made to a Roth IRA cannot be deducted for tax purposes. However, growth achieved through ‎investment returns is free from income tax1.


A Roth IRA is more flexible than you think.

If the idea of not being able to use your money until 59 1/2 is holding you back from opening a Roth IRA, you might be surprised to learn that a Roth IRA is more accessible than you realize. You can withdraw your initial contribution to a Roth IRA, but leave all the earnings alone to continue to grow, with no early withdrawal penalty tax ‎or income tax due.‎

Limits and requirements

  • Maximum contribution $6,000 in a tax year.
  • Individuals over age 50 may be eligible for an additional $1,000 contribution.
  • While Roth IRA contributions are not tax-deductible, qualified withdrawals of earnings can be federal income tax-free when certain withdrawal ‎requirements are met.‎

**Penalty may be imposed for early withdrawal.

1 Please check with your tax advisor for the benefits of an IRA in your specific situation.