| United IRA's |
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| Plan ahead for retirement and
take advantage of tax-deductible savings now, or save for your
child's education. Please contact one of United's
Banking Center Managers
for more information and to determine which retirement account
will best suit your needs.
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| Individual Retirement Arrangements |
| An IRA is a retirement savings plan which enjoys
preferential tax treatment. Contributions may be partially or
wholly deductible on income tax returns. An individual, up to
the age of 70 1/2 may contribute to an IRA even if she/he is
an active participant in another retirement plan. |
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>> Find
out more
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| Roth Individual Retirement Arrangements |
| A Roth IRA is a type of retirement account which
enjoys tax free distributions, including earnings. Earnings
are tax free if the account is open for five taxable years and
withdrawn for a qualified reason: attainment of age 59 ½,
disability, death, or a first time home purchase (lifetime limit
for exemption on first time home purchase is $10,000). |
| >> Find
out more |
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| Coverdell Education Savings Accounts |
| The Coverdell Education Savings Account, formerly
called the Education IRA, is designed to encourage savings for
post-secondary education. The Coverdell Education Savings Account
allows taxpayers to make annual nondeductible contributions,
which are not subject to any gift tax, of up to $2,000 on behalf
of any beneficiary who is 18 years old or younger. |
| >> Find
out more |
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| Simplified Employee Pension |
| A Simplified Employee Pension (SEP) is a written
arrangement that allows an employer to make deductible contributions
for the benefit of participating employees. The contributions
are made to individual retirement arrangements (IRAs) set up
for participants in the plan. |
| >> Find
out more |
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