For more information stop by one of our convenient banking centers or contact the HSA/IRA Department:
Louisville / Southern Indiana
Email us at:
Our Call Center can be reached at:
(502) 582-2571 or (800) 625-9066
With today’s uncertain economy, it’s never been more important to make sure your retirment funds are tax sheltered and working to YOUR best advantage. For over 108 years, Stock Yards Bank has listened to our customers and worked to help make their retirement goals a reality. As a local bank, we can provide technical expertise and face-to-face service that goes above and beyond!
If you are retiring or changing jobs, don’t leave your 401(k) or pension behind. Let us show you how easy it is to transfer your retirement dollars into a Rollover IRA and keep those funds tax sheltered and growing towards retirement. Then, when you are ready to turn that lifetime accumulation of funds into a source of income, we will work with you to properly structure your investments to provide regular distributions.
IRA limits are higher than ever before and a Traditional IRA is the perfect way to take advantage of this. Workers age 50 and older can make ‘catch-up’ contributions to help accelerate investment growth. And remember, your contribution may be tax-deductible. But even if you don’t qualify, your IRA interest remains tax-deferred until withdrawn.
Now Roth IRAs have higher limits too and new opportunities for conversions from Traditional IRAs. Roth contributions are not tax-deductible, but your earnings grow tax-deferred. After five years, you may qualify for tax-free withdrawals on qualified distributions. Also, you can always get back your principal tax-free and IRS penalty-free for any reason. Unlike a Traditional IRA, a Roth IRA allows contributions after age 70 1/2 for working individuals with no mandatory distribution requirement.