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Traditional and Roth IRAs  

Traditional and Roth IRAs

Make saving for retirement a little less taxing.

Both the Traditional IRA and Roth IRA grow tax-deferred and are allowed to have automatic distributions. All of our retirement options come with the expertise and guidance of a knowledgeable North Shore Bank IRA Professional.

Use our Roth IRA Conversion Calculator to see if you should convert.
Traditional IRA
Anyone under the age of 70 with earned income who wants to save money for their retirement with this account that allows their money to grow tax-deferred until retirement age.
What's in it for you?
Roth IRA
Anyone, any age, with earned income who wants to save money for retirement, especially those who earn an income that exceeds the limits set for Traditional IRA deductibility, and wants the ability to withdraw the money tax-free.
What's in it for you?

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1 Distributions taken prior to age 59½ are subject to an IRS penalty. Your contributions to a Traditional IRA may or may not be tax-deductible. Deductibility is determined by two factors, whether you actively participate in an employer-maintained qualified retirement plan and your modified adjusted gross income. (Consult your tax advisor)

2 Income limits affect eligibility to contribute.  You can begin taking "distribution" withdrawals from a Roth IRA without paying taxes or penalties if you have held the account for at least 5 years, and have reached at least 59½ years of age. Unlike with a Traditional IRA, there is no requirement to withdraw a minimum amount at any age. (Consult your tax advisor)

Still have questions?  Email Us  |  Visit your neighborhood branch.  |  877.672.2265
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