Individual Retirement Accounts (IRAs)

MNB offers competitive rates on Traditional and Roth IRAs to help you reach your retirement goals. It’s never too late to get started.

Traditional IRA

• Tax-deferred earnings
• Contributions may be tax deductible

Roth IRA

• Tax-deferred earnings
• Tax-free qualified withdrawals
• More flexible access to funds than Traditional IRA

Traditional & Roth IRA Rollovers and Transfers

• The two methods used to move assets from one financial organization to another
• Traditional IRA to Traditional IRA
• Roth IRA to Roth IRA
• This transaction is only reportable to the IRS if an IRA owner has control of the assets

We encourage you to contact a tax advisor to discuss your tax deductibility status when making retirement decisions.

IRA Comparison Chart

Feature	Traditional IRA	Roth IRA
Minimum Deposit	$1,000	$1,000
FDIC Insured	Up to $250,000	Up to $250,000
Eligible Age	None	None
Annual Contributions	Not Required	Not Required
Maximum Annual Contributions	$7,000 $8,000 for those older than 50	$7,000 $8,000 for those older than 50
Spousal Contributions	Accepted	Accepted
Contribution Due Date	April 15 of next calendar year	April 15 of next calendar year
Tax Consequences	Tax-deferred earning. Contributions may be tax deductible.	Tax-free disbursement at retirement. Contributions made with post-tax dollars.
Distributions	Must begin by April 1 of the year after the participant reaches age 73	No Mandatory Disbursements

Get Started Now

• Schedule a meeting with a Personal Banker
• Visit any MNB banking center to open an IRA today!