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Individual Retirement Accounts

INDIVIDUAL RETIREMENT ACCOUNTS

  • Traditional
  • Roth

Terms for IRA'S

  • 18 months
  • 24 months
  • 12 months

Penalties:

  • Same as regular “Certificate of Deposit” plus a 10% penalty from IRS.
  • 59 ½ years or older, withdrawals are permitted without a penalty from Peoples Community Bank or IRS; however, taxes are assessed on the withdrawals if it is a regular IRA.
  • 70 ½ years of age, IRS requires an annual distribution, without a penalty from Peoples Community Bank or IRS.