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  Traditional IRA
Variable & Fixed Rate 
Roth IRA
Variable & Fixed Rate
Coverdell Education
Savings Account
Variable & Fixed Rate 
Simplified Employee
Pension IRA
Variable & Fixed Rate
Description: The traditional IRA account allows you to contribute earned income and defer taxes on contributions and earnings until they are withdrawn Contributions are taxed going into IRA account, but no tax is paid on qualified withdrawals

A great tool to help plan for retirement

Designed specifically for those saving for educational purposes For employers who want to provide a tax-advantage savings method for themselves and their employees
Minimum Opening Deposit: $500 $500 $100 $500
Terms:

Varies with program. Ask a representative for details

Varies with program. Ask a representative for details

Varies with program. Ask a representative for details

Varies with program. Ask a representative for details

Tax Deferral Status: Contributions may be tax deductible*

Earnings are taxed deferred until withdrawn*

Contributions are not tax deductible*

No taxes paid on qualified withdrawals of earnings*

Contributions are not tax deductible*

No taxes paid on withdrawals of funds for qualified education expenses*

Contributions may be tax deductible to employers*

Taxes are deferred until withdrawn*

Allowable Contributors:

Individuals under
70 1/2  years of age

Limits apply

Individuals with earned income subject to modified adjusted gross income limits

Limits apply

Anyone can contribute for the benefit of an individual who is under age 18
(exceptions apply for 18+) Limits apply


Modified adjusted gross income limitations apply

Contributions are made by employer to IRA accounts for eligible employees

Limits apply

Withdrawal Information: Regular retirement withdrawals can be made as early as age 59 1/2 and must begin once a participant attains age 70 ½*

Contributions may be withdrawn at any time without taxation*

Qualified withdrawals of earnings may be made without taxation after five years*

No taxes or IRS penalties paid on withdrawals for qualified educational expenses*

Regular retirement withdrawals can be made as early as age 59 1/2 and must begin once a participant attains age 70 ½*

Account Dates: Must open account and all contributions must be made by tax filing deadline (usually April 15)* Must open account and all contributions must be made by tax filing deadline (usually April 15)* Must open account and all contributions must be made by tax filing deadline (usually April 15)* SEP-IRA Plan must be established by tax filing deadline. Contributions must be made by tax filing deadline plus extensions*
Contribution Information: Please consult your tax advisor, based on your personal situation

Please consult your tax advisor, based on your personal situation

Please consult your tax advisor, based on your personal situation Please consult your tax advisor, based on your personal situation
Benefits:  Variable and fixed rates options allow for flexibility in interest earnings

Contributions may be tax deferred and earnings are tax deferred until withdrawn*

No taxes on the interest earned on the account

Variable and fixed rates offered

Allows parents and children to plan ahead for costly higher education expenses

Tax-free method of paying for education expenses

Contribution limits are much higher than for individual accounts
         

* IMPORTANT NOTE: Substantial penalties may apply for early withdrawals of funds from a Time Certificate of Deposit. Please consult your Tax Advisor regarding Individual Retirement Account contributions and withdrawals. Please Note: This information is accurate as of November 2013.
Central Valley Community Bank reserves the right to make changes at any time as a result of a change of policy, law, and regulation or otherwise.

Learn about other Central Valley Community Bank accounts
that can help meet your personal and business needs.
     
     




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