National Bank of Petersburg offers both Traditional and Roth IRA’s. Both types offer advantages that can help you save for retirement. The big advantage of the Roth IRA is you can make after tax contributions, so withdrawals are tax-free in retirement. With a Traditional IRA, your contributions may be tax deductible, and you’ll pay taxes when you make withdrawals in retirement. Both types have the same contribution limits, but may be limited based on your income. You would be required to take a minimum distribution from your Traditional IRA at age 70 ½, where on your Roth this is not required during your lifetime. Our IRA rates are based the same as our Certificate of Deposit rates. Please call Debra Whitley or Cheryl Rebbe for any questions concerning your IRA.