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Individual Retirement Accounts (IRAs)

Dime offers smart, reliable retirement savings plans you can count on.
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Diversify, Protect and Grow Your IRA

Make Your Money Work For You.

Keep your money growing with guaranteed returns and no risk to principal.

Consolidate all your retirement savings at Dime today! We'll take care of all the paperwork for you. Trust your retirement funds to Dime.

CALL 800-321-DIME (3463) or stop by your local branch.

IRA Basics

An IRA is a type of savings account with certain tax advantages that help you save for retirement. Dime offers two types of accounts — a traditional IRA and a Roth IRA — and eligibility differs based on income and employment status.

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A couple questions:

What’s the difference between a traditional and Roth IRA?
And which one is right for me?

Great questions - read below for more details.

Traditional IRA

With a traditional IRA, you contribute pretax income toward investments that can grow tax-deferred. This means you pay taxes on money only when you make withdrawals in retirement. You may also deduct your contributions from your tax return, depending on eligibility.

Best For Persons Who:

  • Are looking for tax deductions now.
  • Aren't eligible for a Roth IRA because income is high.
  • Expect to be in a lower tax bracket when you retire.

Contact Us

Roth IRA

With a Roth IRA, you make contributions with after-tax money that can grow tax-free and then be withdrawn tax-free in retirement. Basically, for paying taxes on your money right away, you don't have to worry about taxes on your Roth IRA later.

Best For Persons Who:

  • Think you will be in a higher tax bracket in retirement.
  • Want to avoid minimum distributions beginning at age 70½.
  • Want tax-free withdrawals in retirement.

Contact Us

With Roth IRAs, earnings can be distributed tax-free if the Roth IRA holder made the first Roth IRA contribution at least five years ago AND has attained age 59½, is disabled, deceased or is paying first-time home buyer expenses.

Or call 1-800-321-DIME (3463)


How much can I contribute to an IRA each year?
In 2016, you can contribute up to $5,500. If you’re age 50 or older, the limit is $6,500. This is the total that can be contributed per year across all IRAs.
What if I need access to the money I deposited?
For a traditional IRA, early withdrawals (before age 59 ½) are subject to a 10% penalty, in addition to any applicable federal and state taxes. For a Roth IRA, early withdrawals of earnings are subject to the same 10% penalty, but contributions can be withdrawn without penalty.
When can I start withdrawing money without penalties?
For both traditional and Roth IRAs, you can make penalty-free withdrawals at age 59 ½.

Your future's more secure with Dime.

Trust Dime to help you plan your retirement. We will take care of all the paperwork and help you keep your money growing with guaranteed returns and no risk to principal. We're here to help you.


Questions? Contact us or give us a call! 1-800-321-DIME (3463)

* A $500 minimum balance is required to open and to earn the Annual Percentage Yield (APY) on this special account offering (maximum of $250,000). APY is effective 1/02/2018. New money only. Funds to open this account cannot be transferred from any existing Dime account. Premature withdrawal is subject to penalty and fees may reduce earnings. In addition to any bank penalty, certain IRS penalties may also apply. Consult your tax advisor. Additional deposits have the same maturity date as the initial deposit and become part of the principal. Additional deposits are also subject to IRS contribution limits. Dime Community Bank reserves the right to cancel or modify this offer at any time without notice and to limit the number of accounts opened. Deposits insured to the maximum amount allowed by law. Deadline for 2017 IRA contributions is April 17, 2018.