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cenbank.com - IRA Information April 24, 2014
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IRA Information

cenbank.com - IRA Information
Traditional IRA's
  • FDIC Insured
  • Fixed & Variable rates
  • Terms from 12 months to 5 years
  • Minimum investment as low as $10
  • Automatically renewable
  • Catch up contributions of up to $1,000 allowed for qualified individuals
  • No annual fee
  • Annual contributions may be up to $5,000 in 2009 per individual
  • Contributions may be partially or fully deductible
  • Earnings grow tax-deferred
  • Distributions are generally taxable, but penalty-free if withdrawn for a qualified reason
  • Required distributions at age 70 1/2

Roth IRA's


  • FDIC Insured
  • Fixed & Variable rates
  • Terms from 12 months to 5 years
  • Minimum investment as low as $10
  • Automatically renewable.
  • Catch up contributions allowed for qualified individuals.
  • No annual fee.
  • Annual contributions may be up to $5,000 per individual in 2009.
  • Distributions can generally be withdrawn tax-free
  • No required minimum distribution


Coverdell Education Savings Account's (CESA)
  • FDIC Insured
  • Fixed & Variable rates
  • Terms from 12 months to 5 years
  • Minimum investment as low as $10
  • Automatically renewable.
  • No annual fee.
  • Annual contributions may be up to $2,000 in 2009 per child under the age of 18.
  • Earnings grow tax-deferred.


04/01/2010


cenbank.com - IRA Information
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