Individual Retirement Accounts (IRAs)

A long-term investment vehicle, created to help retirees supplement their Social Security income

• Potentially higher return than savings accounts
• Minimum (and maximum) annual contribution
• Contributions for standard IRAs may be tax exempt; consult with your tax advisor
• Post-retirement disbursements from Roth IRAs tax exempt
• Significant penalties for early withdrawal of funds
• Federally insured by NCUA up to $250,000, over and above insurance of up to $250,000 on regular accounts
• Additional insurance coverage by ESI of up to $250,000, for total coverage up to $500,000

Comparison Chart