Skip to the content Log In Personal > Accounts > IRAs Individual Retirement Accounts It’s never too early to start planning for retirement. Burke & Herbert Bank Individual Retirement Accounts (IRAs) are a great choice for retirement savings because of the tax advantages they offer. Save for your retirement at Burke & Herbert Bank Traditonal and Roth IRAs Variety of plans and investment choices Expert, friendly assistance included Featured Product IRA CDs As you close in on retirement, it makes sense to be more risk-averse with your investments. IRA CDs provide the peace of mind of a guaranteed rate of return. We make it easy to get started, with a low minimum balance of $100 to open your account. With 18-, 25-, 36- and 60-month terms, our retirement CDs can easily accommodate your retirement plans. Visit a branch to learn more IRAs in a Nutshell Traditional IRAs Key Features/Benefits: Immediate tax-deductible contributions Money grows tax-deferred Retirement savings taxed as income only when you start withdrawing from your account Opportunity to roll over assets from 401(k) or other pre-tax employer-sponsored plans Minimum distribution required at age 70 and a-half (70 1/2), and you can no longer contribute to your account Roth IRAs Key Features/Benefits: Tax-free withdrawals at retirement Contributions are not tax-deductible which means you pay income tax now but not when you are eligible to make withdrawals More money available to you in retirement Eligibility to contribute is limited by income Get help with your retirement questions Talk to a Wealth Advisor How much should I save? Traditional or Roth IRA? Ways to Open an Account Branch Locations Visit one of our local branches near you. You may also be interested in: Wealth Services Certificates of Deposit (CDs) Money Market Accounts Services PERSONAL BUSINESS WEALTH About Us NEWSROOM CAREERS FDIC COVERAGE PRIVACY NOTICE Customer Service SECURITY CENTER LOCATIONS ORDER CHECKS FAQS BANK HOURS & HOLIDAYS CONTACT US Join Our Team Explore Careers Facebook Facebook Twitter Twitter LinkedIn LinkedIn Customer Contact Center: 703-684-1655 info@burkeandherbertbank.com Bank Routing Number: 056001066 © Copyright 2021 Burke & Herbert Bank. All Rights Reserved.