Savings for When Your Working Days are Done
It’s always the right time to start saving for your retirement. You want to make sure you have enough to live the way you want when your working days are over, and Paper City Savings Bank offers individual retirement accounts (IRAs) to allow you to save more effectively. Contact your local office to discuss which retirement account may be the right choice for you.
Retirement Account Offerings
Retirement Account Option | What You Need to Know About This Account |
|---|---|
Traditional IRA | Interest earned is tax-deferred* Deductible contributions Contribution limit: $7,000.00 Catch up contribution: $1,000.00 (must be 50 years or older) |
Roth IRA | Interest earned is tax-free Non-deductible contributions Contribution limit: $7,000.00 Catch up contribution: $1,000.00 (must be 50 years or older) |
*Consult your tax advisor
