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Individual Retirement Plans (IRAs)

Principal Bank offers two types of Individual Retirement Plans--Traditional and Roth. Whichever type you choose, you can rest easy knowing your funds are invested in secure, tax-deferred savings opportunities (both plans are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 aggregate total per depositor). To learn which IRA is right for you, review the information below:

Traditional IRA - Personal retirement savings plan available to anyone who receives taxable compensation during the year. Contributions may or may not be deductible in the tax year made. Earnings are untaxed until withdrawn.

Roth IRA - Offers tax-exempt rather than tax-deferred savings. Contributions are never deductible. Earnings are untaxed as long as Roth IRA has been open for at least five tax-years.

Safe Harbor and Plan Term IRA - (for individuals) A Principal Bank Safe Harbor IRA is a qualified savings account that pays a competitive interest rate and provides access to the funds at any time. Learn more about how a safe harbor IRA could work for you.

Safe Harbor and Plan Term IRA - (for Plan Sponsors and Financial Professionals only) The Principal Bank Safe Harbor IRA is a qualified savings account that pays a competitive interest rate and provides access to the funds at any time. Learn more about how a safe harbor IRA could be the right fit for your employees.

To apply for a Principal Bank Individual Retirement Account, call 1.800.672.3343 or your financial professional.

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Have a question?
Contact a bank customer service representative at 1.800.672.3343 or via e-mail.

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