IRAs

Simple Ways to Fund Your Ledyard IRA

• Rollovers
• Transfers
• Contributions

Compare Roth and Traditional IRA CDs

See which one is right for you.**

 

	Roth IRA CD	Traditional IRA CD
Main Features	Pay now, save later Funded with after-tax dollars. Earnings and qualified withdrawals are tax-free. Contributions are not tax deductible. Limitations apply	Earn now, pay later Funded with pre-tax dollars. Earnings are tax-deferred. Contributions are tax-deductible up to certain income limits. Limitations apply
Tax Considerations	Pay taxes now and get them out of the way. Think your tax rate will be higher when you withdraw? Go with a Roth IRA.	Pay taxes later. Think your tax rate will be lower when you withdraw? Choose a Traditional IRA.
Eligibility	Anyone with taxable earned income within IRS limits (limits based on income and tax filing status).	Anyone with taxable earned income within the IRS limits (income limits apply for tax-deductible contributions)
Making Withdrawals	Withdraw anytime. Withdraw earnings without IRS penalty at age 59½ if your account is at least 5 years old.	Withdraw when you’re 59½ Withdraw contributions and earnings without IRS penalty at age 59½. Distributions are required to start by age 70½ if you were 70½ by 12/31/2019. If you turn 70½ in 2020 or years following, distributions will not be required until you are age 72.

**Please consult your tax advisor. Fees could reduce earnings on the account, consult a tax professional. Subject to IRS limits.