Taking Care of Tomorrow

Are you looking for a way to save money for retirement? Why not get an individual retirement account (IRA)?

PWSB offers:

  • Traditional IRAs
  • Roth IRAs

IRA Features

  • Competitive interest rates
  • Interest compounds quarterly
  • FDIC insured 
  • No annual administration fee or service charge (however, an early withdrawal penalty may be imposed for withdrawals before maturity)
  • Automatic renewal option
  • After age 59½ you have the option to increase the interest rate on your IRA once every 12 months
  • Must have earned income and have not reached age 70½ by the end of the year
  • Annual contribution limits apply
  • Required distributions after age 70½

Traditional IRA

With a Traditional IRA, you make contributions with money you may be able to deduct on your tax return. Any earnings can potentially grow tax-deferred until you withdraw them in retirement. Consult your tax advisor.

Roth IRA

A Roth IRA is a retirement savings account that allows your money to grow tax-free. You fund a Roth with after-tax dollars, meaning you’ve already paid taxes on the money you put into it. In return for no up-front tax break, your money grows and grows tax-free. When you withdraw at retirement, you pay no taxes. Consult your tax advisor.

Retirement Savings Calculator

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IRA Rates

We pride ourselves on competitive IRA interest rates.

See Our Rates