IRAs

Your retirement savings are key to your financial security—which is why at Webster, we help you take advantage of IRA tax benefits to nurture and grow a nest egg you can depend on.

  • Fast Facts
  • Great for retirement savings
  • Offers tax advantages
  • Yearly contributions can be made

Savings for your future and retirement is a critical part of your financial health and well-being. That’s why at Webster, we offer two types of tax-advantaged IRAs to help you plan ahead, grow your nest egg, and secure the retirement you deserve.

Webster offers Traditional IRAs and Roth IRAs.

Traditional IRAs Can Offer You

  • The ability to deposit 100% of your earned income, tax-deductible*
  • More earning potential with tax-deferred interest until withdrawal
  • Penalty-free regular distributions that can begin at age 59 ½
  • The option to convert to a Roth IRA

Roth IRAs Can Offer You

  • The ability to deposit 100% of your earned income*
  • Tax-free growth on earnings for qualified withdrawals
  • Peace of mind that you will not pay income taxes on qualified distributions
  • The freedom to withdraw your principal at anytime
  • Flexibility to make contributions after 70 ½, with no requirements to begin distribution
  • Ability to convert from a Traditional IRA

Enjoy the Benefits of Webster IRAs

  • Save according to your objectives—options include our Retirement Money Market Savings and Retirement CDs (available in branches)
  • Make flexible contributions: deposits can be made up until April 15 of the following year to count for the prior year
  • Count on a 10 day grace period for withdrawals on all IRA CDs
  • Experience greater peace of mind with FDIC insurance

Keep in Mind

  • Consult tax advisor/professional regarding your specific situation
  • Early withdrawal CD penalties apply except in the case of death, disability, or normal distribution
  • There is an administrative fee of $25 for premature distributions and transfer of assets out of the bank
  • Taxes will be due with conversion from Traditional to Roth IRAs
  • Premature distributions of contributions are subject to IRS penalties

For more information on IRAs, please visit us at a branch location, or call us at 1-800-325-2424.

Disclaimer

* See disclosure for current limits or see tax advisor for current limits for your individual situation.

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