A Russell Country Individual Retirement Account (IRA) is a great way to save for retirement, and because of the many options available in our IRA products, we’re confident you’ll find the right fit for your individual retirement needs.  A Russell Country IRA can be specifically tailored for the retirement goals that you have in mind, while providing you with tax advantages available from owning an IRA.

An IRA with Russell Country is safe and secure, and your money stays right here with us so it’s there until you need it.  Besides offering competitive rates on our IRA’s, there are no annual maintenance fees on our IRA’s, and an IRA share account can be opened for as little as $25.  Russell Country offers both Traditional IRA’s and Roth IRA’s, and each has specific tax advantages.

Traditional IRA’s are available for anyone.  Your contributions may be tax deductible (consult your tax advisor), and income tax on the account and earnings is deferred until the funds are withdrawn.

For 2019, the maximum you can contribute to all of your traditional and Roth IRAs is the smaller of:

    • $5,500 ($6,500 if you’re age 50 or older), or
    • Your taxable compensation for the year

A Roth IRA is another product available with Russell Country.  Roth IRA contributions are not tax deductible, however tax free withdrawals may be made if the account has been opened for a minimum of 5 years and the account owner is over the age of 59 ½, disabled, or is a first time home buyer.   If contributions are made only to Roth IRAs, your contribution limit generally is the lesser of:

    • $5,000 ($6,000 if you are age 50 or older), or
    • Your taxable compensation

However, if your modified AGI is above a certain amount, your contribution limit may be reduced.

Russell Country IRA’s can be opened in either a share account or a fixed term certificate, out to 48 months.

IRA Rates

Retirement Calculator

For more information about Tradional and Roth IRAs click here