Secure Your Future With an Individual Retirement Account
Is an IRA Right For You? Take our Washington Savings Association One-Minute IRA Test and find out.
Washington Savings Association offers Traditional and Roth Individual Retirement Accounts (IRAs) and Coverdale Education Savings Accounts. To find out more, call or stop by one of our five branches today. Our staff would be happy to explain to you about the IRA products that we offer. Start planning for your future today by opening up an IRA or making a contribution to your existing Washington Savings IRA. Check out our current rates.
IRA Tax Savings Potential Chart
| IRA Deductible Contribution Amount | 15% Tax Bracket Savings | 28% Tax Bracket Savings | 31% Tax Bracket Savings | 36% Tax Bracket Savings | 39.6% Tax Bracket Savings |
| $ 500 | $ 75 | $ 140 | $ 155 | $ 180 | $ 198 |
| $ 1,000 | $ 150 | $ 280 | $ 310 | $ 360 | $ 396 |
| $ 2,000 | $ 300 | $ 560 | $ 620 | $ 720 | $ 792 |
| $ 2,250 | $ 337 | $ 630 | $ 697 | $ 810 | $ 891 |
| $ 4,000 | $ 600 | $ 1,120 | $ 1,240 | $ 1,440 | $ 1,584 |
If You’re Changing Employers, An IRA Rollover Makes Sense. If you are retiring or changing jobs and anticipate withdrawing money from your employer’s retirement plan, you can avoid withdrawal penalties by transferring your assets into an IRA or another qualified plan. You can ask your employer to arrange for a “direct rollover” of your money into a new IRA account with us, or you can do it yourself with an IRA-to-IRA rollover.
*This page is intended to give general information about the IRA products that we offer and is not intended to give specific advice to any personal situation. Consult your accountant, lawyer or tax advisor in regards to your personal situation.
