Introduction to IRAs


Introduction to IRAs trains bank personnel on key concepts about IRA product features and benefits, contribution, and distribution requirements. The course discusses traditional, rollover, and Roth IRAs, including the new conversion rules, as well as Simplified Employee Pension Plans and SIMPLE Retirement Accounts. It also presents information about IRA tax benefits and penalty calculations. The 2013 updated version provides an overview of IRA withdrawal requirements and includes a series of unique reference tools that participants can print and use on the job. Also included is a PowerPoint with course highlights and a comparison of key product features. The slides can be used independently in subsequent training discussions as needed. Students will gain a greater understanding of how IRAs work, which will enhance their ability to increase IRA sales and improve customer service.


Audience: All bank personnel who require a basic understanding of IRAs including experienced tellers and new accounts representatives, personal bankers, platform assistants, branch managers, trust administrators, and private bankers.


Learning Objectives: 

By the end of Introduction to IRAs, you will be able to:

  • Describe the types of Individual Retirement Accounts, including contribution rules
    • Traditional IRAs
    • Roth IRAs
    • Rollover IRAs
    • Simplified employee pension plans
    • SIMPLE retirement accounts and 401(k) plans
  • Explain the IRA withdrawal requirements