CD's & IRA's Each Individual Retirement Account is now insured by the FDIC up to $250,000. Traditional IRA and Roth IRA's are available at City Bank of Hartford. A traditional IRA allows a customer to deposit a minimum of $500 and deduct the amount invested from the taxes paid that year. The taxes will not be paid until the amount is withdrawn, usually when the person has retired and is in a lower income bracket. A Roth IRA does not allow a tax deduction for the amount deposited during a tax year and there would be no taxes due when the amount is withdrawn. To open a new IRA, transfer an existing IRA or to ask |