Individual Retirement Accounts (IRAs)

  • A lesbian couple sits on a patio in the city with their pet dog.

    • IRAs offer one of the best ways to fund your retirement.

    Provided you follow the contribution and withdrawal rules, the tax-deferred growth that an IRA affords can help you accumulate more for retirement thanks to the power of compounding.

    Whether you’re just starting out or closing in on retirement, taking advantage of every opportunity for tax-deferred savings through your employer’s retirement plan, as well as an IRA, may dramatically improve the likelihood of achieving your goals.

    The following IRAs are all available through SunTrust:

    IRA Type What is it? How might it help my portfolio?
    Traditional IRAs A tax-advantaged retirement savings vehicle designed to help you save more for your retirement.
    • Contributions may be tax-deductible depending on your income
    • Gain additional tax-deferred growth above and beyond your employer-sponsored plan
    • Make additional catch-up contributions if you’re age 50 or older
    • May provide tax advantages
    Roth IRAs Roth IRAs are funded with after-tax dollars so that distributions in retirement may be tax-free.
    • Earnings and contributions accumulate tax free
    • Provides more flexibility on withdrawals prior to age 59½
    • Doesn’t require you to take any Required Minimum Distributions (RMDs)
    • Distributions from inherited Roth IRAs are tax-free for your beneficiaries
    IRA Rollovers Still have retirement plan assets with a previous employer? A Rollover IRA provides an easy way to consolidate all your retirement assets into a single account while retaining their tax-deferred status.

    When rolling over savings from an employer-sponsored plan, you can roll it over to an IRA, keep it with you, the employee, or you could cash out.

    Before transferring your retirement assets to a SunTrust Investment Services IRA rollover be sure to consider investment options and services, fees and expenses, withdrawal options, required minimum distributions, and tax treatment of each option and how they align with your financial needs and retirement plans.
    • More effectively manage your asset allocation and diversification by consolidating all your retirement assets
    • Potentially broadens your available investment choices
    • Reduces the number of statements and plan paperwork you receive
    SEP IRAs These IRAs for small business owners are designed to provide retirement benefits for the owners and their employees.
    • Allows for significantly higher contribution limits than Traditional and Roth IRAs
    • Offers potential tax breaks for the business
    • Provides tax-deferred retirement growth
    CD-Funded IRAs If principal protection is your primary concern, an IRA funded with one or more Certificates of Deposit (CDs) offers a traditionally lower yielding but safe way to save for retirement.
    • FDIC-insured retirement savings
    • All interest earned on the underlying CDs accrues tax-deferred

    Need help deciding which IRA is right for you?

    Call 877.962.9032 to speak with a SunTrust Investment Services (STIS) advisor.

    DISCLAIMERS

    IRA withdrawals prior to age 59 ½ may be subject to a 10% penalty

    SunTrust Bank and its affiliates and the directors, officers, employees and agents of SunTrust Bank and its affiliates (collectively, "SunTrust") are not permitted to give legal or tax advice. Clients of SunTrust should consult with their legal and tax advisors prior to entering into any financial transaction.

     

    Contact the STIS Client Advisory Center
    877.962.9032
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