Nurture your nest egg with a Warsaw Federal IRA. We’ll find the best plan for you and your family.
- Competitive Interest
- Tax Advantages*
- No Setup or Maintenance Fees
- Competitive interest above standard savings rates
- Traditional IRA and Roth IRA options
- No setup fees
- No monthly or annual maintenance fees
- Annual contribution limits apply (see current contribution limits; $6,000 as of 2019)*
- Additional $1,000 "catch-up" contribution allowed for ages 50+
- Funds can be used to purchase CDs within IRA
- $50 minimum deposit to open
*Consult a tax advisor.
When would you like to enjoy your tax advantage? A traditional IRA can provide tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement.
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax1
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty2
- Mandatory withdrawals at age 70½
- Income limits to be eligible to open Roth IRA3
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal1
- Principal contributions can be withdrawn without penalty1
- Withdrawals on interest can begin at age 59½
- Early withdrawals on interest subject to penalty2
- No mandatory distribution ages
- No age limit on making contributions as long as you have earned income
1Subject to some minimal conditions. Consult a tax advisor.
2Certain exceptions apply, such as healthcare, purchasing first home, etc.
3Consult a tax advisor.