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IRAs and Education Savings

Smart ways to build funds for the future.

Saving for retirement or college expenses can be less taxing for you with a variety of Individual Retirement Account and investment options:
  • Money markets & CDs — short term & long term
  • Fixed or variable interest rates
  • Lump-sum deposits or periodic contributions
 
Account Options: Description/Features:
Traditional IRA
  • Taxes deferred on earnings until withdrawn
  • Penalty for withdrawals before age 59 ½
  • Contributions can be tax-deductible*
Roth IRA
  • Non-deductible investment*
  • Allows tax-free withdrawals for specific reasons after 5 year holding period and attaining age 59 ½
Coverdell Education
Savings Account
(Formerly Education IRA)
  • Non-deductible investment for paying education costs *
  • Allows contributions of $2,000 per year, per child until he/she reaches age 18

* Consult your tax advisor. Certain restrictions may apply.
 
 
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Susquehanna Bank 1570 Manheim Pike Lancaster, PA 17604-3300