Individual Retirement Accounts (IRAs)

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Build a stronger financial future with an IRA

An IRA is a smart way to build your future. Whether you're just starting out or fine-tuning your retirement plan, it offers tax advantages and long-term growth to help you retire with confidence.

Choose from Traditional or Roth IRAs, each with distinct advantages for different financial situations

Traditional IRA: Contributions may be tax-deductible, helping reduce your annual tax bill*
Roth IRA: Qualified withdrawals are tax-free, offering more flexibility in retirement**
Most IRAs allow penalty-free withdrawals starting at age 59½, giving you access to your funds when you need them

Contributing to a IRA is easy – and it comes with some great tax advantages.

Contribution Limits

Type	Year 2026	Year 2025	Year 2024	Year 2023
Traditional (if under 49)	$7,500	$7,000	$7,000	$6,500
If Age 50 or Older	$8,600	$8,000	$8,000	$7,500
Roth (if under 49)	$7,500	$7,000	$7,000	$6,500
If Age 50 or Older	$8,600	$8,000	$8,000	$7,500

The deadline for making a prior year contribution is the same as your tax filing deadline excluding extensions. For most individuals, this is April 15th. To make a prior year contribution, please make an appointment.

Catch-up contributions for those 55 and older are $1,000.

Disclaimers

*Traditional: Early withdrawals are subject to ordinary income tax and a 10% penalty if distribution taken before reaching age 59½. Be sure to consult your tax advisor for more information about the tax benefits of IRAs.

**Roth: Earnings distributions from a Roth IRA may be subject to taxes and a 10% penalty if account is less than five years old and the owner is under age 59½. Be sure to consult your tax advisor for more information about the tax benefits of IRAs.

Individual Retirement Accounts (IRAs)

Build a stronger financial future with an IRA

IRA Contribution Limits

Contribution Limits