IRAs
With a Sterling Bank & Trust IRA, your future looks bright.
Congratulations! You're taking the right steps to a secure retirement with Sterling Bank & Trust retirement accounts. Choose from a retirement savings account for liquidity or IRA CDs for higher interest.
- Save taxes now with a traditional IRA. Depending on your income level and whether you have a retirement plan at your work, your IRA is funded with after-tax dollars.
- Save taxes later with a Roth IRA. A Roth IRA is funded with after-tax money - but your investment grows tax-free. There are no required minimum distributions, you can continue to contribute as long as you have earned income (even after age 70 1/2), and withdrawals are tax-free. (Restrictions apply. Please consult your tax advisor for details.)
- Avoid paying unnecessary taxes with an IRA Rollover. If you've recently left a job, your retirement account could be treated as ordinary income - and subject to a significant penalty for early withdrawal. Rolling over your retirement account to a qualifying Sterling Bank & Trust account within 60 days avoids that tax bill.
What type of IRA is right for you?
Stop by your neighborhood Sterling Bank & Trust branch to discuss your retirement plans with a Sterling Bank & Trust professional today.