Tax Advantaged Retirement Accounts*

We offer the following IRA accounts which pay competitive dividend rates, click on each one for details:

• Traditional
• Roth
• Education (Coverdell)

Let Sea West help you gain an edge on retirement or education expenses with a Sea West IRA Account. You can open any type of tax-advantaged IRA account without set-up fees or annual maintenance costs.

Individual Retirement Accounts (IRAs) let you increase your pension and Social Security income with the possibility of enjoying a break on your taxes. You can reduce your current tax bill by deferring income tax on the dividends the account earns until you begin withdrawals, usually after you retire when your tax rate may be lower. All or part of the money you contribute may be tax-deductible, depending on your overall income and pension plan participation status.

Traditional

What are the benefits:

• Earnings on Traditional IRAs are tax-deferred.
• Contributions may be tax-deductible, depending on your income and whether or not you have a qualified retirement plan.
• Untaxed IRA assets can generally be converted to a qualified retirement plan.
• Funds can be withdrawn after age 59 1/2* without a tax penalty.
• Distributions must be taken beginning at age 70 ½.

Roth

As long as you have earned income that does not exceed the prescribed MAGI limit you can open and contribute to a Roth IRA even after age 70 ½.

• Earnings are tax-free*
• Contributions may be withdrawn tax-and penalty-free
• Distributions are not required to be taken at age 70 1/2
• Contributions are not tax-deductible

Education (Coverdell)

The Coverdell IRA was designed to specifically address education expenses. Here are some of the features:

• Deposits must be for a designated beneficiary under the age of 18.
• Distributions and earnings are tax-free, provided they are used for qualified education expenses.
• Qualified expenses have been expanded to include school costs for kindergarten through higher education.
• A child may contribute to his or her account.
• Almost anyone may contribute, including grandparents.
• The maximum annual contribution Was been increased to $2,000 per child, beginning with the tax year 2002.
• Any married taxpayer filing jointly and declaring income up to $190,000 may contribute.
• The contribution deadline has been extended to April 15th of each year.
• Generally, you may roll funds from one Coverdell ESA to a new or existing Coverdell ESA to benefit the same child and/or eligible member of the child's family.

* Please consult your tax advisor to determine which type of IRA account (or accounts) make sense for you. Then when you are ready to open an IRA account, simply visit one of our branches or contact us at 800-SEA-WEST (732-9378).

Contact us at 1-800-SEA-WEST (1-800-732-9378)
Sea West's Routing Number is 3211-7126-5