Santa Cruz County Bank is pleased to offer many options for retirement planning. An IRA is an excellent tool for retirement savings. Depending upon the type of IRA you choose, contributions may be tax deductible and will grow either tax-free or tax-deferred. We can assist you with the rollover or transfer of an existing IRA or you can open a new one. For more information about our IRAs, rates, and service charges, please visit any of our banking locations. To set up an appointment, please call 831.457.5000.
Please consult your tax specialist for phase-out range.
| Year | Age 49 & Below | Age 50 & Above |
|---|---|---|
| 2021 | $6,000 | $7,000 |
| 2020 | $6,000 | $7,000 |
Traditional IRAs can be opened & funded by the tax filing deadline to receive tax deduction on the prior year's wages. Roth IRAs can be opened and funded by the April 15th tax filing deadline.
| Year | Annual Contribution Amount Per Beneficiary Please consult your tax specialist for phase-out range. |
|---|---|
| 2021 | $2,000 |
| 2020 | $2,000 |
Educational Savings accounts must be opened and funded by the April 15th tax filing deadline.
*If you qualify.
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Santa Cruz County Bank has no control over information at any site hyperlinked to or from this site. Santa Cruz County Bank makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and is providing this hyperlink to you only as a convenience. The inclusion of any hyperlink does not imply any endorsement, investigation, verification or monitoring by Santa Cruz County Bank of any information in any hyperlinked site. In no event shall Santa Cruz County Bank be responsible for your use of a hyperlinked site.
Santa Cruz County Bank has no control over information at any site hyperlinked to or from this site. Santa Cruz County Bank makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and is providing this hyperlink to you only as a convenience. The inclusion of any hyperlink does not imply any endorsement, investigation, verification or monitoring by Santa Cruz County Bank of any information in any hyperlinked site. In no event shall Santa Cruz County Bank be responsible for your use of a hyperlinked site.
Santa Cruz County Bank has no control over information at any site hyperlinked to or from this site. Santa Cruz County Bank makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and is providing this hyperlink to you only as a convenience. The inclusion of any hyperlink does not imply any endorsement, investigation, verification or monitoring by Santa Cruz County Bank of any information in any hyperlinked site. In no event shall Santa Cruz County Bank be responsible for your use of a hyperlinked site.
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