We’ve helped four generations of Oklahomans save for retirement. Plan for your future — starting now.
Key Features
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Competitive Interest
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Tax Advantages1
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No Setup or Maintenance Fees
Details
- Competitive interest above standard savings rates
- No income limits to open a traditional IRA
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax1
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59 ½
- Early withdrawals subject to penalty2
- Mandatory withdrawals at age 72
- No setup fees
- No monthly or annual maintenance fees
- Annual contribution limits apply (see current contribution limits; $6,000 as of 2019)
- Additional $1,000 "catch-up" contribution allowed for ages 50+
- Funds can be used to purchase CDs within IRA
- $500 minimum deposit to open
1Consult a tax advisor.
2Certain exceptions apply, such as healthcare, purchasing first home, etc.