Individual Retirement Accounts

Make sure retirement’s covered with Roth & Traditional IRAs.

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Save today for a better tomorrow.

An IRA can help you bridge the gap between Social Security, pension plans and the standard of living you want in retirement. Wings’ Roth and Traditional IRAs simplify saving so you can have peace of mind.

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	Traditional IRAs	Roth IRAs
Overview	The traditional IRA is an individual retirement account that allows you to defer taxes on your contribution earnings until they are withdrawn. Certain contributions are also tax-deductible in the tax year for which you make them.	The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. If you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA, since contributions are nondeductible and taxed in the year they are earned.
Contribution Requirements	Add money at any age, as long as you have earned compensation.	Add money at any age, as long as you have earned compensation.
Required Minimum Distributions (RMDs)	You must start taking RMD in the year you turn 73.	Do not apply
Contribution Amount per Tax Year	View Traditional IRA Contribution Chart	View Roth IRA Contribution Chart
Which accounts can I open	Certificate Share Account Investment Money Market Account High-Yield Savings Account	Certificate Share Account Investment Money Market Account High-Yield Savings Account
Where can I open an IRA	Available at branch locations or by mail	Available at branch locations or by mail

Common Questions about IRAs

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What is an IRA?

IRAs are Individual Retirement Accounts.

When Social Security and pension plans are not enough to maintain your standard of living at retirement, an Individual Retirement Account (IRA) can be an excellent investment. Both the Roth and traditional IRA offer a number of benefits, depending on your current financial situation.

Traditional IRAs allow you to defer taxes on your contributions' earnings until they are withdrawn.
Roth IRAs allow only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period.

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