ROTH IRA

The Roth IRA is a personal retirement plan offering the following benefits:

• Available to persons who have an annual modified adjusted income less than $114,000 or if joint tax filers, $166,000.
• After tax contributions up to $5,000 (or 100% of earned income, whichever is less) and $6,000 for those over 50 to your retirement plan. Ask a Personal Banker for annual IRA contribution levels.

• Potential tax-free earnings as long as withdrawals begin after you turn age 59 ½ and have had the account for at least 5 years.
• Withdrawals for qualifying expenses are IRA penalty-free prior to age 59 ½, although income taxes will apply to any earnings included in the withdrawal amount.
• Withdrawal of tax-free earnings, to the maximum amount of $10,000, for the purchase of a first time home, after you have had the account for at least 5 years -  this benefit may be applied to yourself or your children.
• Unrestricted access to your contributions at any time, without IRS penalty.
• No minimum required distributions at age 70 ½. You may continue to contribute to your Roth IRA as long as you are a wage earner.
• All Security National Bank Certificate of Deposits (CDs) qualify as Roth IRA investments. See interest rates for more information.
• We also offer non-traditional investment opportunities such as mutual funds for our customers through our Brokerage and Investments Departments
• FREE Online Banking service for reviewing your account information.

Visit one of our convenient locations today!

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