Traditional and Roth IRA
from Valley National Bank

Valley National Bank has two types of IRA products- Traditional and Roth IRA. The Traditional IRA is a tax-deferred investment that may allow customers to contribute up to $4000 annually if they are under age 50 and $5000 annually if age 50 or over, but under age 701/2 or until retirement. For many investors, the contributions are tax deductible. Withdrawals are taxed as income and penalty-free withdrawals are allowed for first time home purchase ($10,000 lifetime limit), higher education funding, and account holders death or disability. The Roth IRA allows customers to contribute up to $4000 annually if they are under age 50 and $5000 annually if they are age 50 or over. Contributions can be made at any age and are not tax-deductible. Additional features of this account are available on the bank's website.