Individual Retirement Account (IRA)
“River Valley provides an important piece of my retirement plan so I can do more.”
Individual Retirement Accounts (IRA) provide tax advantages for retirement savings. You can contribute each year up to the maximum amount allowed by the IRS.
IRA Options
Traditional IRA
Contributions typically are tax-deductible. You pay no taxes on IRA earnings until retirement, when withdrawals are taxed as income.
Roth IRA
Contributions are made with after-tax funds and are not tax-deductible, but earnings and withdrawals are tax-free.
SEP IRA
Allows an employer, typically a small business or self-employed individual, to make retirement plan contributions into a traditional IRA established in the employee's name.