How To Protect Your Account
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Individual Retirement Account1
Abacus IRA products providing stable returns to help you plan for retirement. See any of our IRA representatives. We will explain the nature of these accounts in more detail and help you complete the forms necessary to establish your traditional and/or Roth IRA.
- A high interest fixed-rate certificates are available to give you a safe and secure way to save for retirement.
- In addition to high interest, you IRA may also bringing new opportunities for tax-advantaged savings².
IRA Certificates of Deposit (CDs)6
Annual Percentage Yield (APY)*
|1 Year IRA CD||1.50%||1.51%|
|2 Year IRA CD||1.84%||1.85%|
|3 Year IRA CD||1.93%||1.94%|
|4 Year IRA CD||2.14%||2.16%|
|5 Year IRA CD||2.25%||2.27%|
IRA Jumbo Certificates of Deposit (CDs)7
Annual Percentage Yield (APY)*
|1 Year Jumbo IRA CD||1.60%||1.61%|
|2 Year Jumbo IRA CD||2.05%||2.07%|
|3 Year Jumbo IRA CD||2.18%||2.20%|
|4 Year Jumbo IRA CD||2.40%||2.42%|
|5 Year Jumbo IRA CD||2.50%||2.52%|
TRADITIONAL IRA & ROTH IRA ANNUAL CONTRIBUTION LIMITS³
Total Limit for Age 50 and over³
|2016 and later years||$5,500 + COLA4||$1,000||$6,500 + COLA4|
Open An IRA Today! Opening an IRA at Abacus Bank is easy! Just stop by or give us a call. We are here to help you save for retirement tomorrow today.
*Annual Percentage Yield (APY) is effective as of 04/16/2018 and may be changed or terminated by the bank at any time without notice.
1 This page includes information you need to know about deposit accounts at Abacus Federal Saving Bank. This page is designed to help make your banking at Abacus Federal Saving Bank easy to understand and is intended to provide general information with respect to the features and requirements of Individual Retirement Accounts through Abacus Bank. It is not intended to provide legal advice or to be a detailed explanation of the rules or how such rules may apply to your individual circumstances. For specific information, you are encouraged to consult your tax or legal professional. IRS Publication 590, Individual Retirement Arrangement (IRAs), and the IRS website, www.IRS.gov, may also provide helpful information.
2 Consult your tax advisor.
3 Contributions to a Traditional IRA are not permitted once you reach age 70½. Contributions to a Roth IRA may be made at any age.
4 Subject to annual cost-of-living adjustments (COLAs), if any.
5 For IRA CDs, a $1,000.00 minimum balance is required to open an IRA CD and to earn annual percentage yield. The annual percentage yield assumes interest will remain on deposit until maturity. Withdrawals from IRAs before age 59 ½ may be subject to a 10% federal additional tax and possible state tax, except under certain conditions. Please consult your tax professional. In addition, withdrawals from IRA CD before the maturity date may also be subject to bank early withdrawal penalties. Fees could reduce earnings on the account. Speak with an Abacus bank representative for more information.
6 All new money (monies not currently held in an Abacus account) required. A $50,000.00 or more is required to open an IRA Jumbo CDs and to earn annual percentage yield. Must have an Abacus saving/checking account. The annual percentage yield assumes interest will remain on deposit until maturity. Withdrawals from IRAs before age 59 ½ may be subject to a 10% federal additional tax and possible state tax, except under certain conditions. Please consult your tax professional. In addition, withdrawals from IRA CD before the maturity date may also be subject to bank early withdrawal penalties. Fees may reduce earnings on the account. Speak with an Abacus bank representative for more information.