Retirement Accounts

Money in a nest Santa Cruz County Bank is pleased to offer many options for retirement planning. A retirement account is an excellent tool for retirement savings. Depending upon the type of Retirement Account 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 retirement plan or you can open a new one. For more information about our retirement plans, rates, and service charges, please visit any of our banking locations. To set up an appointment, please call 457-5000.

Contribution limits for retirement plans*

Traditional & Roth IRA Maximum Contribution Limits
Please consult your tax specialist for phase-out range

Year Age 49 & Below Age 50 & Above
2018 $5,500 $6,500
2017 $5,500 $6,500

Traditional IRAs can be opened & funded by the tax filing deadline to receive tax deduction on the prior year's wages. Roth IRAs must be opened and funded by the April 15th tax filing deadline.


SEP (Self Employed Pension) can be funded by tax filing deadling, including extensions

Simple IRA Employee Limits
Please consult your tax specialist for phase-out range

Year Age 49 & Below Age 50 & Above
2018 $12,500 $15,500
2017 $12,500 $15,500

Simple IRAs must be opened and funded by tax year end.


Coverdell Educational Savings Account*

Year Annual Contribution Amount Per Beneficiary
Please consult your tax specialist for phase-out range
2018 $2000
2017 $2000

Educational Savings accounts must be opened and funded by April 15th tax filing deadline.

*If you qualify

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