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Individual Retirement Accounts (IRAs)

Saving for retirement? IRAs are a flexible savings option with potential tax benefits¹, making them a great way to supplement a 401(k) or other employer-sponsored plan. 

Compare IRAs

Traditional IRA – Good for those who want deductions now, have income too high to qualify for a Roth IRA, or expect to be in a lower tax bracket in retirement.

Roth IRA – Good for those who want tax-free withdrawals in retirement, want to avoid required minimum distributions beginning at 70 ½, or expect to be in at the same or higher tax bracket in retirement. 

Traditional vs Roth IRAs at Sound

 

Traditional

Roth

Tax deduction on contributions¹  
Tax-deferred earnings¹  
Tax-free growth on earnings¹  
Tax-free withdrawals during retirement¹  
Required minimum distribution after 70 ½  
Available as a Savings account (view rates)
Available as a Certificate account (view rates)
No annual maintenance fees
Ready to open? Make sure you have the following available:
• SSN for beneficiary(s)
• State-licensed ID

open Traditional IRA online open Roth IRA online

Learn more about Traditional and Roth IRAs with our infographic.

 
SEP IRA

Have a Simplified Employee Pension (SEP) with your employer? Open your SEP IRA online and start saving for retirement today.
open SEP IRA online

IRA Transfers and Rollovers

Have an IRA at another financial institution? Transferring those funds or rolling over funds from a retirement account to your Sound IRA is easy. Just call our Contact Center or visit your local branch.
 


A IRA Savings account is required to open a Sound IRA.

1For specific tax advice, please consult your tax advisor.

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