It's never too early to start planning for your retirement.
Baltic State Bank offers two types of individual retirement account (IRA): Traditional IRA and Roth IRA. Our IRA savings account pays you a competitive rate and provides a monthly statement. You can also add more funds to this account anytime.
For contribution limit to all your IRA accounts (Traditional and/or Roth), please visit the IRS website.
Contact us today to learn more
Traditional IRA
- Contributions are tax-deductible (Please refers to the IRS website for contribution limit).
- Qualified distributions (including earnings and gains) are taxable at the time of withdrawal
- Cannot make more contributions after you reach the age of 70 ½
- Early withdrawals may be subjected to penalties. Please visit the IRS website to learn more.
- Please consult with your tax advisor for additional information.
Roth IRA
- Contributions are not tax-deductible (Please refers to the IRS website for contribution limit).
- Qualified distributions (including earnings and gain) are tax-free
- Can make more contributions after you reach the age of 70 ½
- Early withdrawals may be subjected to penalties. Please visit the IRS website to learn more.
- Please consult with your tax advisor to determine if a Roth IRA is right for you.