IRAsTraditional IRA
A Traditional IRA from SCBT allows you an opportunity to supplement your other retirement savings.
Tax Deductible contributions*
- No additional participation by you or your spouse in an employer-sponsored retirement plan
- Your AGI (Adjusted Gross Income) is less than $150,000 in addition to non-participation in an employer-sponsored plan.
- Your AGI is less than the current years income limits
Contribution Limits:
| Year | Limits for < 50 years | Limits for > 50 years |
| 2005 | $4000 | $4500 |
| 2006 | $4000 | $5000 |
| 2007 | $4000 | $5000 |
Withdrawals may begin at age 59 ½ or earlier for college expenses or first home purchase or substantially equal period payments **
* Consult your tax advisor concerning interest deductibility.
** Withdrawals may be subject to certain penalties.
Roth IRA
A Roth IRA from SCBT affords you several benefits as you save for retirement.
- Earnings are tax-free under specific conditions, though contributions are not tax deductible*
- Funds may be withdrawn after five years for first-time home purchase without penalty
- Can contribute after age 70 ½ if you have earned income
- Your beneficiaries can inherit your tax-free benefits
| Year | Limits for < 50 years | Limits for > 50 years |
| 2005 | $4000 | $4500 |
| 2006 | $4000 | $5000 |
| 2007 | $4000 | $5000 |
*Consult your tax advisor concerning Roth contributions and withdrawals
Rollover IRA
Contribute funds from a qualified pension plan, profit-sharing plan, or IRA from another institution.
Securities and Insurance Products Offered Through Linsco/Private Ledger Member FINRA/SIPC. LPL and SCBT are independent entities.
Not FDIC Insured No Bank Guarantee May Lose Value
Not a Deposit Not Insured by any Government Agency
