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Individual Retirement Accounts

Summary

Reduce some uncertainty in retirement. Switch or open your retirement accounts at Evergreen. Your money is safe, accessible and local.

  • No setup fees
  • No monthly or annual service fees
  • Tax-advantaged savings for retirement*
  • Rollover 401K funds
  • Flexible term certificates from 6 months to 5 years
  • Make monthly contributions, if desired
  • Payroll deduction available
  • Traditional and Roth IRA options
  • $500 minimum deposit to open IRA Term Certificate

Tools & Tips 

MyMoney. MyFuture

RetireReady

Budget and Credit Center

*Consult a tax advisor.

Traditional vs. Roth

One of the biggest differences between a traditional IRA and a Roth IRA is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contribution limits apply*
  • Contributions are tax deductible on state and federal income tax**
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70 ½

*Refer to the IRS website for current limits.

**Subject to some minimal conditions. Consult a tax advisor.

Roth IRA

  • Contribution limits apply*
  • Income limits to be eligible to open Roth IRA**
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal**
  • Principal contributions can be withdrawn without penalty***
  • Withdrawals on dividends can begin at age 59 ½
  • Early withdrawals on dividends subject to penalty†
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

*Refer to the IRS website for current limits.

**Consult a tax advisor.

***Subject to some minimal conditions. Consult a tax advisor.

†Certain exceptions apply, such as healthcare, purchasing first home, etc.