Travel, teach, spend time with family – whatever your retirement hopes, we’ve got the plans.

An Individual Retirement Arrangement (IRA) is an account that offers tax advantages for funds that you invest during your employment for use during your retirement.

Different types of IRA accounts offer unique tax benefits that you should consider based on your current employment status and long-term retirement goals. You can even put money aside in an Educational Savings Account (ESA) for future tuition and education expenses.

Regardless of the type of IRA you open, Signature IRA investments provide for a variety of terms through Share Certificates.

Whether you are taxed now or at the time of disbursement is one of the major points of consideration when deciding what kind of IRA account is right for you. Your tax advisor can help you decide whether a Traditional or Roth IRA is a smart choice based on your age, long-range earning outlook and retirement plans. 

View IRA Rates

Signature offers three IRA options:

  • Traditional – funds are deposited pre-tax and are taxed at the time of withdrawal
  • Roth – funds are taxed at the time of deposit and can be withdrawn in full
  • ESA – savings that can be used for tuition and education-related expenses

Traditional IRA

Inv​est tax-free today.
A Traditional IRA is the basic type of IRA account. Funds are deposited from your pre-tax income statement, and are generally tax deductible when you file to the IRS. Because you did not pay taxes on the funds at the time of deposit, you will make a tax payment on every withdrawal after your retirement.

Roth IRA

Withdraw tax-free after retirement.
The funds invested in a Roth IRA are taxed on your current year’s earnings and are not tax deductible. With taxes being paid on the funds at the time of deposit, the interest in your Roth IRA grows tax-free and the balance is yours in full after retirement.

Coverdell (Educational Savings Account)

Grow a college fund while they’re young.
Start investing for your child’s college education today with an ESA. The funds invested aren’t tax deductible; however, earnings accumulate tax deferred and the withdrawals used to pay for qualified college-related expenses are tax-free. You may contribute to an ESA in addition to your yearly contribution to a Traditional or Roth IRA. 

The information here should not be construed as tax advice; always consult a professional tax advisor for your needs.