 We offer a selection of retirement Accounts. These retirement certificate of deposit and money market retirement Accounts are also governed by separate disclosures and agreements which we will furnish you at the time the Account is opened.
Let a Baytree private banker assist you with your retirement and saving needs though the Traditional IRA, Roth IRA, Coverdell Education IRA and Simplified Employee Pension (SEP).
Traditional IRA
The Traditional IRA is a savings vehicle that allows you to prepare for your retirement and may also provide tax advantages, depending on your income. With increased contribution limits, a saver may invest up to $3,000.00 a year, or $3,500.00 if you are over 50 years of age. Or, you may want to transfer an existing IRA, or convert another qualified retirement plan to a Baytree traditional IRA account. Choose between a Baytree Savings Account or a Baytree Certificate of Deposit. A private banker will assist you with our IRA rates and your IRA questions and needs.
Roth IRA
The Roth IRA provides flexibility as a retirement tool and the accessibility of funds after just five years from the initial investment. With increased contribution limits, a saver may invest up to $3,000.00 a year, or $3,500.00 if you are over 50 years of age. You may choose either a Baytree savings account or Baytree certificate of deposit to house your Roth IRA. Consult with a private banker regarding contribution eligibility and limits.
Coverdell Education IRA
The Coverdell Education IRA savings program provides you the opportunity to improve one’s future, through the benefits education. The funds may be used for qualified elementary, secondary and higher education expenses, and may be redeemed by the beneficiary up to the age of 30. You can invest up to $2,000.00 a year in a Baytree certificate of deposit or Baytree savings account and watch your money grow. Furthermore, distributions used to pay for certain education expenses are free from federal income tax. Speak to a private banker for more information regarding the Coverdell education program.
Simplified Employee Pension (SEP)
The Simplified Employee Pension (SEP) is a retirement plan in which an employer’s contributions are deposited into an investment where the funds grow tax-sheltered. The sep is geared towards self-employed individuals, or individuals whose employers do not offer qualified retirement plans. Contribution limits are determined by the creator of the plan, generally an accountant, based on a percentage of income. A private banker will assist you in opening a Baytree savings or Baytree certificate of deposit account providing you with competitive market rates.
|
