Traditional IRAs from Spencer Savings Bank in New Jersey

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1-800-363-8115

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A Traditional Individual Retirement Account (IRA) can be an effective retirement tool for individuals. With a Traditional IRA from Spencer, you will be provided the tools to save for retirement while gaining various tax advantages. Opening an IRA now and contributing to it regularly can create a secure retirement setting for your future. Compare the advantages of a Traditional IRA with those of a Roth IRA using our convenient comparison chart: Traditional vs. Roth

Spencer’s IRAs are insured by the FDIC up to $250,000 per depositor.
Why Spencer?	Hassle-free rollovers and transfers Minimum to open as low as $500 Variety of terms available to meet your needs One term change allowed per year for customers over 59 ½ years of age without penalty
Benefits	Tax-Deferred Earnings Contributions and earnings can be withdrawn IRS penalty-free after age 59½ Contributions may be tax-deductible, provided that eligibility requirements are met Earnings and tax-deductible contributions are taxed as income upon withdrawal
Who Can Invest?	Anyone earning income provided eligibility requirements are met
Maximum Annual Contribution	$7,000 (below age 50) $8,000 (age 50 and older)

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Inquire online, visit your local Financial Center, or call us at 1-800-363-8115 today!