Your dream retirement can be more than a dream, but it all comes down to decisions you make today. Take the right steps with a Valley IRA. Choose from Traditional or Roth plans and benefit from the distinct tax advantages that each provides. Get started today and the sky becomes the limit tomorrow — they don't call this Big Sky Country for no reason.
Individual Retirement Accounts (IRAs)
Get the retirement you deserve by saving today.
- Tax-advantaged retirement savings*
- Competitive dividends above standard savings rates
- Traditional and Roth IRA options
- No setup fees
- No monthly or annual maintenance fees
- $5,500 contribution limit per year beginning in 2013
- $6,500 contribution limit per year if age 50+ beginning in 2013
- Funds can be used to purchase certificates within IRA
- $25 minimum deposit to open
- $25 savings account required for membership
*Consult a tax advisor.
Traditional vs. Roth
There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A Traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax*
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70½
- Income limits to be eligible to open Roth IRA***
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal*
- Principal contributions can be withdrawn without penalty*
- Withdrawals on dividends can begin at age 59½
- Early withdrawals on earnings subject to penalty**
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.