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  Traditional IRA
Variable & Fixed Rate 
Roth IRA
Variable & Fixed Rate
Coverdell Education
Savings Account
Variable & Fixed Rate 
Simplified Employee
Pension IRA
Variable & Fixed Rate
Description: The traditional IRA account which allows you to contribute earned income and defer taxes on contributions & earnings until they are withdrawn. Contributions are taxed going into IRA account, but no tax is paid on qualified withdrawals

A great tool to help plan for retirement

Designed specifically for those saving for educational purposes For employers who want to provide a tax-advantage savings method for themselves and their employees
Minimum Opening Deposit: $500 $500 $100 $100
Terms: 12 Months,18 Months,
and 24 Months
12 Months & 18 Months
12 Months & 18 Months
12 Months & 18 Months
Tax Deferral Status: Contributions may be tax deductible**

Earnings are taxed deferred until withdrawn

Contributions are not tax deductible**

No taxes paid on qualified withdrawals of earnings

Contributions are not tax deductible**

No taxes paid on withdrawals of funds for qualified education expenses

Contributions may be tax deductible to employers**

Taxes are deferred until withdrawn

Allowable Contributors: Individuals under
70 1/2 years of age
Individuals with earned income subject to modified adjusted gross income limits Anyone can contribute for the benefit of an individual who is under age 18.
(exceptions apply for 18+)
Modified adjusted gross income limitations apply
Contributions are made by employer to IRA accounts for eligible employees
Withdrawal Information: A 90-day interest forfeiture penalty applies to any non-qualified early withdrawal*

Regular retirement withdrawals can be made as early as age 59 1/2 and must begin once a participant attains age
70 ½*
A 90-day interest forfeiture penalty applies to any non-qualified early withdrawal*

Contributions may be withdrawn at any time without taxation.*

Qualified withdrawals of earnings may be made without taxation after five years*

A 90-day interest forfeiture penalty applies to any non-qualified early withdrawal*

No taxes or IRS penalties paid on withdrawals for qualified educational expenses*

A 90-day interest forfeiture penalty applies to any non-qualified early withdrawal*

Regular retirement withdrawals can be made as early as age 59 1/2 and must begin once a participant attains age
70 ½*

Account Dates: Must open account and all contributions must be made by tax filing deadline (usually April 15) Must open account and all contributions must be made by tax filing deadline (usually April 15) Must open account and all contributions must be made by tax filing deadline (usually April 15) SEP-IRA Plan must be established by tax filing deadline. Contributions must be made by tax filing deadline plus extensions
Contribution Information: Individuals: 100% of earned income up to $3,000

Working married couples: 100% of earned income up to $6,000

Married couples: 1 spouse not working up to $6,000 combined

Individuals 50 years and older may also make a $500 catch-up contribution

Individuals: 100% of earned income up to $3,000

Working married couples: 100% of earned income up to $6,000

Married couples: 1 spouse not working up to $6,000 combined

Individuals 50 years and older may also make a $500 catch-up contribution

Modified adjusted gross income limitations apply

$2,000 per beneficiary

Modified adjusted gross income limitations apply

Employee contribution is based upon an adjustment of net income and can be as high as 25% of the salary or $41,000 per year
Benefits:  Variable and fixed rates options allow for flexibility in interest earnings

Contributions may be tax deferred and earnings are tax deferred until withdrawn**

No taxes on the interest earned on the account

Variable and fixed rates offered

Allows parents and children to plan ahead for costly higher education expenses

Tax-free method of paying for education expenses

Contribution limits are much higher than for individual accounts
Current Rate/APY:        

* IMPORTANT NOTICE: Federal regulations may require substantial penalty for early withdrawal 
of funds for a time deposit. ** NOTE: You should consult your Tax Advisor regarding the tax
benefits of contributing to an Individual retirement Account.
Please Note: This information is accurate as of April 2009. Central Valley Community Bank
reserves the right to make changes at any time as a result of a change of policy, law, and
regulation or otherwise.

Learn about other Central Valley Community Bank accounts
that can help meet your personal and business needs.
     
     



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