It’s smart to start saving for your retirement as early as possible

• Ability to invest after-tax dollars 
• Contributions may be tax-deductible (consult a tax advisor) 
• Earnings grow tax-deferred 
• Possible to take penalty-free withdrawals for reasons such as qualified higher education purchase and first-time home purchase 

• Ability to save money for retirement or major life goals 
• Possible tax advantages (consult a tax advisor) 
• Possible to take penalty-free distributions for a first-time home purchase 
• No age limits for contributions 
• Higher yield compared to savings 
• Source of retirement income 
• Tax-free withdrawals of the principal at any time 
• Can contribute past age 70 (if you are still working), leaving the money for your heirs 

Coverdell Education Savings Account (ESA) 

• Ability to save for qualified educational expenses before the child’s 30th birthday 
• Contributor does not have to be a relative of the designated beneficiary 
• Annual contribution limit of $2,000 
• Wide variety of qualified elementary and high school expenses as well as higher education expenses 
• Tax-deferred growth and tax-free distributions for qualified expenses 

IRA owners who attained age 70 1/2 in 2019 or earlier and individuals who attained age 72 in 2021 or later are required to satisfy a Required Minimum Distribution (RMD). 

How to set up a RMD: 

• Visit a local branch to complete an IRA Required Minimum Distribution Election form 
• Contact TruMark Financial directly at 1-877-TRUMARK to have a form emailed/mailed to you 
• Click here for instructions and to print a distribution form to be uploaded securely via Secure Message Center or drop off at a branch (We do not recommend mailing)