IRAs

You can save for your retirement, education, or other qualified life events with one of our IRA (Individual Retirement Account) options. Best of all, unlike many other financial institutions, at Meridian Trust there are no maintenance fees. This means you're able to keep more of your money. Starting soon pays off, so don't delay getting your IRA going today.

Ask about transferring your existing IRAs to Meridian Trust.

Individual Retirement Accounts can be opened as:

  • An IRA Share Certificate (CD) with a minimum balance of $500
  • An IRA Money Market Account, or as
  • An IRA Share Savings Account

Choose from the following IRA types at Meridian Trust:

Traditional IRA
A traditional IRA lets you build your retirement savings, while enjoying tax benefits. You will not pay tax on your earnings until you make withdrawals. Your contributions may be tax-deductible. This could be your best option if you are under 70 and have earned income.

Roth IRA
Unlike a Traditional IRA (above), your contributions with a Roth IRA are not tax-deductible. However, your earnings grow tax-deferred and withdrawals can be made tax-free. Also unlike a traditional IRA, you aren’t required to make annual withdrawals at a certain age. A Roth IRA may be the better choice for you if you expect to be in a higher tax bracket in the future.

Rollover IRA
Move assets from your previous employer-sponsored retirement plan into a Meridian Trust IRA. You continue to keep the tax benefits. If you’ve changed jobs or have retired, this could be the best choice for you right now.

Coverdell Education Savings Account
This is an account to help parents and students save for education expenses. The total contributions for the beneficiary of this account cannot be more than $2,000 in any year, no matter how many accounts have been established. A beneficiary is someone who is under age 18 or is a special needs beneficiary. Contributions to a Coverdell ESA are not deductible, but amounts deposited in the account grow tax free until distributed. Distributions are tax-free as long as they are used for qualified education expenses, such as tuition and fees, required books, supplies and equipment and qualified expenses for room and board.

Simplified Employee Pension Plan (SEP)
A SEP plan can provide a source of income at retirement by allowing employers to set aside money in retirement accounts for themselves and their employees. A SEP does not have the start-up and operating costs of a conventional retirement plan and allows for a contribution of up to 25% of each employee's pay. Available to any size business.

To open a Meridian Trust IRA, or to learn more, email our Service Center, stop by any Meridian Trust branch location, or call 1.800.726.5644 or 307.635.7878.


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