Individual Retirement Accounts (IRA)

Horizon Bank Individual Retirement Account (IRA) Savings is an easy and safe investment option. For the best options and to start your retirement savings talk to an advisor today.

  • Minimal investment risk & FDIC-insured
  • No minimum balance to open; automatic transfers from your Horizon checking or your Horizon savings account1
  • Any dollar amount, minimum of $5.00, may be trasferred at any time. 
  • Make periodic deposits to supplement your retirement savings outside your employer-sponsored plan2

1For accounts opened with less than $500.00, a periodic transfer from a Horizon Checking or savings account is required. For accounts opened with more than $500.00 may choose a periodic transfer from a Horizon checking or savings account.
2Based upon eligibility. See your IRA Plan disclosure or consult your tax advisor.

An IRA penalty of 10% may be assessed if an individual withdraws any funds prior to the age 59-1/2. See your IRA Plan disclosure or consult your tax advisor.

 

FAQ

What are Individual Retirement Accounts?

Individual Retirement Accounts (IRAs) are designed to help you plan for your retirement. They are technically a type of savings plan, but designed to offer significant tax benefits that save you the most money for when you're ready to retire.

What if I have an employer-sponsored retirement plan?

Horizon Bank has a variety of options to work around or supplement employer-sponsored plans. We often find that you can save additional money in conjunction with these plans, and together we can figure out exactly how much more you can save.

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