Retirement Accounts and Education Savings Accounts

Retirement accounts and education savings accounts are a great way to start saving for your future especially now that your IRA deposits at First Citizens are FDIC-insured up to a total of $250,000. And First Citizens has a great selection of tax-deferred IRA investments to suit your needs. Select from:

• Traditional IRAs: These investments have been popular with many Americans for years. In many cases, the contributions are tax deductible and the earnings are tax-deferred until retirement. For more information see the IRA Comparison Chart.

• Roth IRAs: The earnings are TAX-FREE, as opposed to tax-deferred at retirement, while contributions are made with after tax dollars. For more information see the IRA Comparison Chart.

• SEPs: Simplified Employee Pensions allow greater flexibility and higher contribution limits than IRAs. Self-employed individuals and small business owners prefer SEPs.

• Coverdell Education Savings Account: This savings account allows you to contribute up to $2,000 per child per year for use with secondary and post secondary educational expenses. Contributions are after-tax, and earnings are TAX-FREE.

• SIMPLES: Savings Incentive Match Plans for Employers are salary deferral plans that allow businesses to make matching contributions to their employees' accounts. SIMPLE accounts are specifically designed for small businesses.

• Guide to Choosing An IRA
• Guide to IRA Rollovers