Individual Retirement Accounts (IRAs)

See Current Rates

Save for the golden years.

IRAs are an attractive vehicle for your retirement savings. IRAs provide the following benefits:

	Security- by contributing to an IRA you are taking steps toward a sound financial future.
	Tax-deferred earnings- all IRA dollars are tax sheltered, meaning the earnings are not taxed until you withdraw them from the IRA.
	Tax deductions- you may be eligible to take a tax deduction for your IRA contribution (please see a tax professional to see if you are eligible for this benefit).
	Tax credit- you may be eligible to receive a non-refundable tax credit for contributions made to Traditional and ROTH IRAs (please see a tax professional to see if you are eligible for this benefit).
	Access- if you need to withdraw some of your IRA money, you can. While you will generally pay a 10% I.R.S. penalty on withdrawals before age 59 �, you can access your money if necessary (you may also incur an early withdrawal penalty if you need to withdraw all or part of the principal portion of your certificate of deposit) prior to maturity.
	Flexibility- you decide each year how much you can afford to save. If all eligibility requirements are met, you can contribute a small amount, up to $3,000 per year (plus catch up contributions, if eligible).

ES&L offers several IRA alternatives. All of our Certificates of Deposit (except 30-day) are available for IRA accounts.