External Site Notice
Planning for retirement is easier to do with a financial investment such as an IRA (Individual Retirement Account) from Dover Federal. Whether you are planning for your future or saving for your child’s college education, Dover Federal has an IRA solution for you.
A Traditional IRA offers the advantage of tax-deductible contributions now, building earnings until you need them, and deferring taxes on your earnings until they are withdrawn.* If you leave your job or retire and you have earned benefits in a qualified retirement plan, you can keep the tax-deferred status of the funds by rolling them over directly into a Traditional IRA! Through direct rollover, you postpone paying taxes and avoid the mandatory 20% federal income tax withholding.*
A Roth IRA offers flexibility by allowing you to pay taxes now and reap the benefits in the future. Within qualifying limits, Roth IRA contributions and earnings may be withdrawn tax-free.*
Coverdell Education Savings Account
The Coverdell Education Savings Account (formerly known as the Education IRA) is a savings account that will help pay for your child's education. You can contribute up to $2,000 per year to help pay for your child or grandchild's qualified educational expenses, tax-free.*
*Not intended as tax advice. Please consult a tax professional.
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