INDIVIDUAL RETIREMENT ACCOUNTS
We realize that saving for education and retirement can be hard work, and knowing how to invest the money you save can be confusing. Citizens offers several FDIC-insured IRA options, allowing you to select from Traditional IRA, Roth, SEP, Health Savings Account, IRAs to Savings Accounts. Have a customer service representative help you select the right IRA for your personal retirement needs.

What is a Traditional IRA?
A Traditional IRA is a special tax-deferred savings plan authorized by the federal government to encourage you to accumulate money for retirement.

What is a Roth IRA?
A Roth IRA is an individual retirement account to which participants can make annual nondeductible contributions. Unlike a Traditional IRA in which your earnings are tax-deferred, Roth IRA earnings can be tax free.

What is a SEP IRA?
A SEP IRA is a written plan that allows you to make contributions toward your own retirement account and those of your eligible employees.

What is a Health Savings Account?
A HSA is a tax exempt custodial account established for the purpose of paying medical expenses in conjunction with a high-deductible health care plan.

What is an Educational Savings Account?
An Educational Savings Account is an ideal way for you to begin saving money to help a child, grandchild, or any young person you know pay for higher education expenses down the road.
While contributions to an Educational Savings Account are not tax deductible, distributions used to pay for the qualified education costs of the named beneficiary are generally tax free.