TrustBank offers a variety of retirement and education plans.
A FDIC-insured Individual Retirement Account (IRA) or Coverdell Education Savings Account (CESA) can help your money work harder as you plan for a secure future.
Click the links at the bottom to learn more about TrustBank's IRA solutions.
|Regular Contribution Elegibility Requirements|
|Traditional IRA||Roth IRA|
Younger than age 70 1/2 all year
Limited by MAGI
|Regular IRA Contributions|
|Tax Year||Standard Combined IRA Contribution Limit||Catch-Up Amount (Ages 50+)||Total Combined IRA|
|2016 & Later Years||$5,500 + COLA||$1,000||$6,500 + COLA|
|2015||$5,500 (or 100% of compensation if smaller)||$1,000||$6,500 (or 100% of compensation if smaller)|
|2014||$5,500 (or 100% of compensation if smaller)||$1,000||$6,500 (or 100% of compensation if smaller)|
Contribution Deadline: Income tax return filing due date, not including extensions
COLA = Cost of living adjustments