For Individuals

They call them the Golden Years, but to make them really sparkle you'll need to build up enough savings to do all those things you want to do. A great way to make that happen is with an Individual Retirement Account.

At Starion Bank, we offer Traditional and Roth IRAs. Both offer unique tax benefits and a list of other attractive features. One of our knowledgeable Investment Services Representatives can help you sort through the details and choose the account that works best for you.

Traditional IRA

• Invest up to $7,500 per year if under age 50, and up to $8,600 per year if age 50 or older ($7,500 plus $1,100 catchup)
• Choose to put funds in CDs, savings accounts and other investment options
• Investment interest grows tax-free
• Potential annual tax breaks for each year funds are contributed
• Option to convert to a Roth IRA
• No annual fees
• Consult your financial advisor for more Traditional IRA tax information  

Roth IRAs

• Invest up to $7,500 per year if under age 50, and up to $8,600 per year if age 50 or older ($7,500 plus $1,100 catchup)
• Choose to put funds in CDs, savings accounts and other investment options
• Investment interest grows tax-free and is withdrawn tax-free
• No annual income tax deductions
• No annual fees
• Roth funds can be used in some cases for home purchases and higher education expenses
• Assets in a Roth IRA can be passed on to heirs
• Consult your financial advisor for more Roth IRA tax information