Middle-aged couple planning for retirement on their computer.

Individual Retirement Accounts

Align your financial strategies with your retirement goals.

Whether you see retirement as an opportunity to slow down and relax or stretch out and enjoy new experiences, a tax-advantaged Cornhusker Bank IRA can provide the funds you need to enjoy the lifestyle you want.
 

Is a Traditional or a Roth IRA the best choice for you?

 
The two major types of retirement accounts are similar in many ways, but also have key differences. For example, a Traditional IRA may provide an income tax deduction* every year you make a contribution. With a Roth IRA, there is no such deduction, but all qualified withdrawals once you reach retirement age are tax-free. *

  • Contribute annually up to the IRA contribution limit 
  • Steady, risk-free interest earnings from Cornhusker Bank IRA Accounts
  • Penalty-free withdrawals may be made starting at age 59 ½
 
 




Traditional IRA
 
  • No age limits for contributing to Traditional IRAs, as long as you have eligible earned income
  • There is a penalty tax on withdrawals before age 59 ½, but exemptions are available for specific situations and uses
  • Income taxes are assessed on all distributions from a Traditional IRA
  • Once you reach age 73, you must begin making minimum annual withdrawals from your Traditional IRA
Roth IRA
 
  • No age limits for contributing to Roth IRAs, as long as you have eligible earned income
  • To be eligible for a Roth IRA, you must meet certain income requirements
  • No annual tax deductions, though tax credits are available under certain circumstances
  • No taxes on withdrawals after the age of 59 ½, as long as you've met the 5-year holding period
  • There is a penalty tax on withdrawals before age 59 ½, but exemptions are available for specific situations and uses
  • No required minimum distributions at any age










Compare All Savings

 

Please refer to IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) and IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs) for more information.  

 

 

*This information is not intended to replace the advice of your tax and legal advisors. Cornhusker Bank is the Individual Retirement Arrangement (IRA) Custodian and does not give legal or tax advice. You are responsible for complying with the laws that apply to your IRA and are encouraged to seek the advice of a well-qualified tax advisor or legal advisor before opening your account.