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Enjoy tax-deferred, dividend income and the ability to save for your family's future with our federally insured Individual Retirement Accounts.
To learn about uninsured IRA options, visit our Investments and Insurance site at columbiawealthmanagement.org.
» Open An IRA Online
» Service Existing IRAs Online
» Learn More About IRAs
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| Account Type |
Min. Bal. |
Terms |
Access |
IRA Rates |
| Passbook Savings |
$5 |
NA |
Add funds at any time |
Tiered Rate Chart |
| Certificate |
$500 |
3 mo. - 5 yrs. |
10-day grace period at certificate maturity to add or remove funds |
Tiered Rate Chart |
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| Program |
Description |
Who Can Contribute?1 |
2013
Contribution
Limits2 |
| Traditional IRA |
Tax-deferred retirement savings contributions with possible tax deductions. Deductions may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels. Visit the IRS website to learn more about 2012 and 2013 Traditional IRA deductibility limits. |
Individuals younger than 70½ years with earned income. |
| 49 or younger: |
$5,500 |
| 50 to 70½: |
$6,500 |
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| Roth IRA |
Non-deductible retirement savings contributions that feature tax-free withdrawals on your earnings after five years and when you reach 59 ½ years or a qualifying event. Visit the IRS website to learn more about 2012 and 2013 Roth IRA contribution limits.
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Individuals, any age with earned income. The same general contribution limit applies to both Roth and Traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.
| For 2013, if your filing status is... |
And your modified AGI is... |
Then you can
contribute... |
| married filing jointly or qualifying widow(er) |
less than $178,000 |
up to the limit |
| greater than $178,000 but less than $188,000 |
a reduced amount |
| greater than $188,000 |
zero |
| married filing separately and you lived with your spouse at any time during the year |
less than $10,000 |
a reduced amount |
| greater than $10,000 |
zero |
| single, head of household,or married filing separately and you did not live with your spouse at any time during the year |
less than $112,000 |
up to the limit |
greater than $112,000 but less than $127,000 |
a reduced amount |
| greater than $127,000 |
zero |
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| 49 or younger: |
$5,500 |
| 50 to 70½: |
$6,500 |
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Coverdell
Education IRA |
A tax-deferred investment account created for paying education
expenses on behalf of a beneficiary (up to the age of 18). |
Anyone can contribute. Individuals must earn less than $95,000 if filing single,
and joint taxpayers must earn less than $190,000 to make a contribution.
The phase out range for married couples filing a joint return is $150,000-$160,000
(partial contribution only). The phase out range for singles is $95,000-$110,000 (partial contribution only). |
$500 per year per beneficiary |
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