Perfect for long-range planning goals, the tax-deductible Traditional IRA from Honor State Bank allows you to invest up to $5,000 of your earned income in a tax-deferred account*.

For conservative investors, an insured savings IRA option is FDIC insured (up to $250,000).

Product Features

• Potential tax deductions
• $5,000 annual contribution limit; $6,000 if you are 50 or older
• Anyone with earned income may open an account
• Both spouses may contribute to the IRA, even if there is only one earned income
• Tax-deferred earnings until withdrawal

Product Benefits

• Ideal for long-range planning goals like college and retirement
• Withdrawals are taxed as ordinary income
• Withdrawals are allowed for certain home purchases, college tuition, and major medical expenses without penalty by the IRS

*Maximum contribution limit is $5,000 in 2009. If you will be 50 or older by the end of the year, you can contribute an extra $1,000, for a $6,000 total contribution limit.