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Retirement/Education Plans

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. 

IRA Maximum Annual Contribution

Regular Contribution Elegibility Requirements
Traditional IRA Roth IRA

Compensation

Younger than age 70 1/2 all year

Compensation

Limited by MAGI

Regular IRA Contributions
Tax Year Standard Combined IRA Contribution Limit Catch-Up Amount (Ages 50+) Total Combined IRA
2019 & Later Years $5,500 + COLA $1,000 $6,500 + COLA
2018 $5,500 (or 100% of compensation if smaller) $1,000 $6,500 (or 100% of compensation if smaller)
2017 $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