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Individual Retirement Accounts (IRAs)


Make retirement saving easy with any of Mid Penn Bank’s three types of Individual Retirement Accounts (IRAs):

Traditional IRA

  • Contributions are generally tax-deductible (money is deposited without being taxed)
  • Distributions permitted after age 59 1/2
  • At age 70 1/2, distributions must begin
  • Distributions are taxed as income



Roth IRA

  • Contributions are taxed
  • Qualified distributions are permitted at any time (CD penalties may apply)
  • Distributions are typically tax-free

 

Simplified Employee Pension (SEP) IRA

Allows an employer (typically a small business or self-employed individual) to make retirement plan contributions into a Traditional IRA established in the employee's name.

 

 

Visit our Financial Calculators page and check out the calculators for Personal Planning or Retirement.

 


For more information, please contact:

Denise Lepley
IRA Specialist
(717) 896-5385
To contact us via secure e-mail, click here.

A tax or legal professional should be contacted for guidance when appropriate.