What types of IRAs does Aurora Bank offer?
Aurora Bank offers the Traditional IRA RetirementBuilder account and the Roth IRA RetirementBuilder account. • What is the difference between a Traditional IRA and a Roth IRA? A Traditional IRA allows you to contribute pre-tax dollars that grow tax-deferred, which means that you will not have to pay any taxes on earnings until you withdraw the assets. Savings in a tax-deferred account will compound more quickly than those in a comparable taxable account. A Roth IRA, allows you to contribute after-tax dollars that grow tax-free, which means that you will not have to pay federal income taxes on your earnings, provided certain requirements are met (see Roth IRA Terms and Conditions). In addition, Roth IRA distributions are exempt from state taxes in most states. Please consult your tax advisor or the IRS for further questions. • How much may I contribute to an IRA? In general, you may contribute up to $2,000 per year. However, special rules may apply. • What is the minimum initial deposit
