Jump to main content

Retirement Savings

Individual Retirement Accounts

Individual Retirement Accounts (IRAs) are a tax-advantaged savings plans established under the Internal Revenue Code to aid in saving for retirement and for education purposes.  R-S Bellco offers Traditional, Roth and Coverdell Education IRA Accounts.


A Traditional IRA is an excellent way to increase savings for retirement.  Earnings on IRA contributions accumulate tax-deferred during working years.  Those earnings are not taxed until withdrawn in retirement years.

  • Any member with earned income may contribute 100% of earned income up to $5,500 ($6,500 if you are 50 or older) in the previous year.
  • A non-working spouse may also be eligible to contribute to a Traditional IRA in these amounts based on the working spouses earned income.
  • Contributions to a Traditional IRA may be tax-deductible.
  • Consult a tax professional for more information.


A Roth IRA is another excellent way to save for retirement. 

IRA Accumulation (Savings) Accounts