Retire in Style with a Park Community IRA

It’s never too early to start planning for retirement, and Park Community has all the options you need to get started. Just choose from a traditional or Roth IRA and you’re on your way to earning great rates.

Not sure which IRA is right for you? Follow these simple steps.

  1. Choose your IRA – we have both Traditional and Roth IRAs. The simple rule of thumb is that if you expect to be in a lower tax bracket at retirement, choose traditional. If you expect to be in a higher tax bracket at retirement, choose Roth. Contributions to traditional IRAs may also be deductible, while contributions to Roth are not deductible; however, when you pull qualified money out of your Roth IRA it is not taxed while traditional IRA distributions are added to your taxable income. This chart explains it all: Which IRA is right for you?
    Traditional IRA Roth IRA
    Deductibility** Contributions may be deductible Contributions are not deductible
    Treatment of Earnings Earnings grow tax-free and are added to taxable income for the year distributed Earnings grow tax-deferred and qualified distributions are tax free
    Tax Bracket Good choice if you expect to be in a lower tax bracket when you retire Good choice if you expect to be in a higher tax bracket when you retire
    Income Caps No income caps Income caps may prevent some from contributing
  2. Open either a traditional IRA savings account or a Roth IRA savings account and make contributions. When your account is up to $500, go to step 3.
  3. Earn more interest by opening either a traditional IRA certificate or a Roth IRA certificate. If you already have $500 to contribute, skip step 2.

If you’re a student, check out our Coverdell Education Savings Account.

Contact us today for more information at 502/968.3681 or 800/626.2870

Current Rates

IRA Accounts (Roth or Traditional) Interest Rate APY*
IRA Savings 0.11% 0.11%
6 month IRA Certificate 0.30% 0.30%
12 month IRA Certificate 0.499% 0.50%
18 month IRA Certificate 0.548% 0.55%
24 month IRA Certificate 0.846% 0.85%
36 month IRA Certificate 1.143% 1.15%
48 month IRA Certificate 1.390% 1.40%
60 month IRA Certificate 1.882% 1.90%

*APY=Annual Percentage Rate. Rates as of 09/29/2015 and subject to change without notice. An early withdrawal penalty may be imposed on certificate accounts. For more detailed information, call 502/968.3681 or 800/626.2870.

**Please consult a skilled tax advisor regarding tax deductibility.



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