Individual Retirement Accounts

Horizon Bank Individual Retirement Accounts (IRAs) are designed to help you plan for your retirement. All Horizon Bank IRAs are available as both a Traditional IRA or Roth IRA.

Setting Every Community Up for Retirement Enhancement (SECURE) Act Overview

Traditional IRAs are funded with income on a pre-tax basis, creating for you significant short-term tax advantages.

  • Traditional IRAs create an income tax deduction for the amount contributed each year
  • Traditional IRAs are subject to annual contribution limits and Required Minimum Distributions (RMDs) once you reach age 70½
  • Traditional IRAs require that income tax be paid on distributions

Roth IRAs are funded with income on an after-tax basis, allowing you to experience long-term benefits on the money you save.

  • Roth IRAs are subject to annual contribution limits, but not Required Minimum Distributions (RMDs)
  • Roth IRAs do not require income tax to be paid on distributions

Stop by your local Horizon Bank or call us toll-free on 888-873-2640 to see what type of IRA is best for your retirement strategy

Investment vehicles made available through Horizon Trust & Investment Management are: Not deposits or other obligations of, or guaranteed by Horizon Bank; Not insured by the FDIC; Subject to investment risks, including possible loss of principal.