IRAs (Individual Retirement Account)
WEPCO offers two different types of IRA products.
A Traditional IRA is a powerful tool for creating a balanced, long-term savings plan with tax-deferred earnings and the possibility of tax-deductible contributions.
While contributions to a Roth IRA are not tax-deductible, the money you contribute can be withdrawn tax-free at any time. Earnings can also be withdrawn tax-free, if you qualify.
Coverdell Education Saving Account (ESA)
Coverdell Educational Savings Accounts can pay for the future costs of a child’s primary or secondary education. The plan allows total after-tax contributions per year for each child until they reach the age of 18. These contributions and their subsequent earnings are tax-free when withdrawn to pay for qualified education expenses.
Simplified Employee Pension Plans (SEP)
A SEP can help employers encourage their employees to save for retirement. SEPs provide many of the same benefits as a qualified retirement plan, but without as many disclosures and reporting requirements.
Rates effective as of September 24, 2019
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For more information about our Traditional and Roth IRAs, view the following brochures: