Retirement Accounts

Prepare for the next chapter of your life with a retirement savings account from First Financial.

HomeBankPersonalRetirement Accounts

Retirement accounts feature:

  • Tax advantages, either tax-deferred growth or tax-deductible contributions*
  • Potential for tax savings*
  • Competitive interest rates

Traditional IRA

Enjoy the perks of tax-deductible contributions* to a Traditional IRA with these qualifications if you:

  1. Are under age 73
  2. Earn an income
  3. Meet IRS annual income limits

Features

  • Potential for tax-deductible contributions
  • Income and contribution limits set by IRS
  • “Catch-up contributions” after age 50
  • Mandatory withdrawals at age 73
  • Withdrawals for retirees starting at age 59 1/2
  • Earnings tax-deferred until withdrawal

To learn more about our Traditional IRA and open an account, call Member Services at 410-321-6060 or toll-free at 800-903-3328.

*Significant changes were made to IRA regulations effective 2020. Contact your financial advisor to discuss your individual tax situation.

IRA Savings Account
BalanceAnnual Percentage YieldMinimum to Open
$0 to $1,999.990.10%No minimum required
$2,000 and Over0.20%No minimum required

IRA Savings, Money Manager and Money Market dividends are compounded daily and credited monthly. These Dividend Rates(s) and Annual Percentage Yields(s) shown may change at any time as determined by our Board of Directors and may change after the account is opened. APY is accurate as of the last dividend declaration date. Fees and/or penalties may reduce earnings.

Roth IRA

Save for retirement at any age with the tax-deferred growth* a Roth IRA offers. You’ll pay taxes on contributions, but can enjoy tax-free returns during retirement if you:

  1. Meet IRS annual income limits
  2. Earn an income

Features

  • No age limit for contributions
  • No mandatory age withdrawals unlike a traditional IRA
  • Tax-free earnings on qualified withdrawals
  • Income and contribution limits set annually by the IRS
  • Retirees can begin making withdrawals starting at age 59 1/2

To learn more about our Roth IRA and open an account, call Member Services at 410-321-6060 or toll-free at 800-903-3328.

*Significant changes were made to IRA regulations effective 2020. Contact your financial advisor to discuss your individual tax situation.

IRA Savings Account
BalanceAnnual Percentage YieldMinimum to Open
$0 to $1,999.990.10%No minimum required
$2,000 and Over0.20%No minimum required

IRA Savings, Money Manager and Money Market dividends are compounded daily and credited monthly. These Dividend Rates(s) and Annual Percentage Yields(s) shown may change at any time as determined by our Board of Directors and may change after the account is opened. APY is accurate as of the last dividend declaration date. Fees and/or penalties may reduce earnings.

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