The Fidelity Banks - Fidellity State Bank & Trust Co.
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CD & IRA

Retirement Accounts

Investing for retirement requires planning and long-term commitment. Our retirement account options are here to help you achieve your investment goals. We offer accounts that are FDIC-insured up to $250,000 so you can consolidate more of your retirement savings into one plan at one institution-simplifying your taxes, simplifying your accounting and simplifying your life as you earn a competitive fixed rate of return.

  Traditional IRA Roth IRA
Eligible Age Before the year in which you turn 70 ½ None
Contribution Income Eligibility Limits None 2013: Single - $112,000-$127,000; Married filing jointly - $178,000-$188,000; 2014: Single - $114,000-$129,000; Married filing jointly - $181,000- $191,000 
Annual Contributions Not Required Not Required
Maximum Annual Contributions $5,500; $6,500 for those older than 50 $5,500; $6,500 for those older than 50
Spousal Contributions Accepted Accepted
Contribution Due Date April 15 of the next calendar year April 15 of the next calendar year
Tax Consequences Tax deferred earning. Contributions may be tax deductible. Tax-free earnings at retirement. Contributions are made with post-tax dollars. Tax-free distributions.
Distributions Must begin by April 1 of the year after participant reaches age 70 ½ No mandatory disbursements
Interest Rate Upgrade If over age 59 ½, you can upgrade the interest rate every 18 months on 2 ½ or 5 year IRAs. Contributions are also accepted at that time. If over age 59 ½, you can upgrade the interest rate every 18 months on 2 ½ or 5 year IRAs. Contributions are also accepted at that time.
Annual maintenance fee None None

Rollover IRA

Do you have IRAs with different financial institutions? Consolidate them at Fidelity Bank.

  • Move assets while maintaining your tax advantages.
  • Move assets from a Qualified Retirement Plan to an IRA and avoid tax consequences.
We do business Right here at home
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