Retirement Accounts

Piedmont Federal offers a wide variety of retirement savings accounts designed to help you save now so you can spend your retirement the way you want. Retirement accounts are available with fixed rates with terms of 6 months, 12 months, 18 months, 30 months and 48 months, and with a variable rate with a term of 18 months. Choose from two personal retirement savings accounts — with possible tax deductions or deferments with a traditional IRA, or tax-free earnings with a Roth IRA.

TRADITIONAL IRA
A no-fee retirement account that offers you the stability of fixed rates with guaranteed returns. Our Traditional IRAs allow almost anyone under age 70 1/2 to contribute up to $5,000 of earned income annually for you and/or your spouse. Married couples may contribute up to $5,000 each even if only one has earned income. It offers a tax deferral of the earnings until they are withdrawn and a possible tax deduction, dependent upon certain income limits and your participation in an employer-maintained retirement account. Individuals 50 and over have an opportunity to make additional "catch up" contributions of $1,000. And now our IRAs are FDIC insured up to $250,000, so you can consolidate all your IRAs into one account.

ROTH IRA
A nondeductible account that offers tax-free earnings on your contributions as long as you have reached age 59 1/2 and your account has been open at least five years before earnings are withdrawn. Contributions can be withdrawn at any time, tax free. You may contribute up to $5,000 of earned income for you and/or your spouse (certain income limitations could reduce or eliminate the contributions). As with the Traditional IRA, individuals 50 and over have an opportunity to make additional "catch up" contributions of $1,000 annually.

NOTE: It is important to remember that the annual contribution can be divided between the two types of IRAs as you choose.

SIMPLIFIED EMPLOYEE PENSION (SEP) PLAN
A SEP is a great plan for self-employed individuals and small companies. It is a retirement plan that allows any employer to contribute up to 25% (maximum of $49,000 for 2011) of each employee's compensation into their own IRA. The maximum compensation limit is $245,000 in 2011. These deposits provide a tax deduction for the employer, and the contributions do not affect the employee's participation in other types of IRAs.


FDIC deposit insurance is now $250,000 per depositor.
Mortgage Rates Check Todays Rates Personalized Rate Quote Mortgage Application Login
Did you know you can apply
for a home loan online?

Unlike many other lenders, at Piedmont
Federal we do not sell your loan.
That way your money stays right here.
Check out our great home loan options
or check our rates and apply now.

Footer About Piedmont Federal Contact Piedmont Federal Piedmont Federal Media Piedmont Federal Privacy Policy Piedmont Federal Customer Care
© 2014 Piedmont Federal | Equal Housing Lender Logo Equal Housing Lender, Member FDIC