Individual Retirement Accounts

An Individual Retirement Account can help pave the way to a relaxing retirement!


individual retirement account

IRA Options

  • Traditional IRA
  • Roth IRA
  • Simple IRA
  • SEP (Simplified Employee Pension Plans)
  • Profit Sharing Plans

Variable Rates

  • Funds are invested in a Personal Savings account
  • Interest compounds daily and is credited monthly
  • Deposits can be added at any time
  • The rate is variable and is subject to change daily

Fixed Rates

  • Funds are invested in a Certificate of Deposit (CD)
  • Rate is determined at account opening and is fixed for the initial term of the CD. The rate may change upon maturity.
  • Interest is compounded and credited quarterly

Maximum Annual Contributions

Under the age of 50

2020 Tax Year - $6,000.00
2021 Tax Year - $6,000.00

Age 50 and Over

2020 Tax Year - $7,000.00
2021 Tax Year - $7,000.00


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julie-blair

Julie Blair

Retirement Plan Manager

Direct: (320) 634-1004
Email: julie@glenwoodstate.bank