Personal Banking

Retirement Accounts

Whether you are retiring years from now or just a few months down the road, Ridgewood knows the sooner you start saving for retirement, the better off you'll be. Our plans will help meet your needs and give you peace of mind for the future. Plus all IRA plans are insured up to FDIC limits, and at Ridgewood, there are no annual maintenance fees.

Traditional IRA

IRA limits are higher than ever before, making them more powerful retirement investments. And a Traditional IRA is the perfect way to take advantage of this. Maximum limits are higher, plus workers age 50 and older, can make 'catch-up' contributions to help accelerate investment growth. After 2008, contribution limits will be adjusted to inflation.

And remember, your contribution may be tax-deductible. But even if you don't qualify, your IRA interest remains tax-deferred until withdrawn. At that time you will most likely be in a lower tax bracket. Call our Retirement Specialists today at (877) 417-6547.

ROTH IRA

Now Roth IRAs have higher limits too! Roth contributions are not tax-deductible, but your earnings grow tax-deferred. After five years, you may qualify for tax-free withdrawals on qualified distributions. Also, you can always get back your principal tax-free and IRS penalty-free for any reason. Unlike a Traditional IRA, a Roth IRA allows contributions after age 70 1/2 for working individuals with no mandatory distribution requirement. Call our Retirement Specialists today at (877) 417-6547.

SEP IRA

The Simplified Employee Pension (SEP) is a qualified retirement plan established or adopted by employers for themselves and their employees. All Qualified Plans are IRS approved plans and may be used by sole proprietors, partnerships and corporations.

The SEP plan is one of the more popular Qualified Plans because it combines the simplicity of an IRA with the added benefits of a Qualified Plan. A SEP is designed to permit an employer to contribute to employees' IRAs. This contribution is excluded from the employee's current taxable income and the employer may deduct the contributions as a business expense. Call our Retirement Specialists today at (877) 417-6547.

Coverdell Education Savings Account

The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a specific purpose - a child's education expenses. The annual contribution limit is $2,000.

Money put aside grows tax-free and can be withdrawn tax-free as long as the proceeds are used for qualified educational expenses at an eligible educational institution such as college, trade school, and public or private elementary and high schools.

Call our Retirement Specialists today at (877) 417-6547.

Qualified Plans

Qualified Plans are Retirement Plans established or adopted by employers for themselves and for the employees of the business. These plans are IRS approved and may be used by sole proprietors, partnerships and corporations.

Call our Retirement Specialists today at (877) 417-6547.

Dow Jones Industrial Average^SM Indexed CD

The new Ridgewood Savings Bank Dow Jones Industrial Average^SM Indexed CD is a worry-free way to invest your money. Now you can enjoy the benefits of the stock market without the risks! Each five-year investment is FDIC insured up to allowable limits...which means when the market is up, your money is on the rise. When the market is down, your original investment is safe and sound!

• What are the benefits of an ICD?

• Earnings potential is uncapped & tied to the Dow Jones Industrial Average^SM
• Diversified among 30 "Blue Chip" Stocks
• Reliable - Portfolio diversification over a broad segment of the U.S. Economy
• Safety - No downside risk - your principal is guaranteed if held to maturity
• FDIC Insured - Protected up to $100,000 per depositor and up to $250,000 for certain Retirement plans, subject to limitations imposed by law
• Affordable - Only $500 Minimum Deposit Required
• Perfect for all IRA Plans
• No Customer Fees or Charges
• No Management Fees - allowing you to have 100% of your deposit at work

Call (877) 417-6547 today to determine if this Certificate of Deposit is suitable for you.

There may be a penalty for early withdrawal, including a possible loss of principal. "Dow Jones" and "Dow Jones Industrial Average" are service marks of Dow Jones & Company, Inc. and have been sub-licensed for use for certain purposes by Ridgewood Savings Bank. 5 Year Indexed CDs based on the performance of the Dow Jones Industrial Average^SM are not sponsored, endorsed, sold or promoted by Dow Jones; and Dow Jones makes no representation regarding the advisability of investing in such products. There is no stated annual percentage yield. FDIC insurance is subject to maximum allowable limits. Consult your tax advisor regarding tax benefits of IRAs. Terms subject to change without notice.