Savings/Retirement

Savings/Retirement

Savings Accounts

This information is for educational purposes only. Opening a savings account is not a requirement.

Opening a savings account is the same process as opening a checking account. Savings accounts have higher interest rates, meaning you will gain more money on the amount invested in the savings account. You may elect to put money in a savings account from your weekly paycheck. Use ADP to add a direct deposit account and amount you would like to contribute weekly. You may also transfer money to the savings account without adding the account ADP. This is a personal preference. 

Individual Retirement Account (IRA) 

This information is for educational purposes only. Opening an IRA is not a requirement.

Interstaff does not offer a 401(k) savings plan to nurses or core staff.  An IRA is a retirement savings account with tax advantages. It's considered to be the best way to save money for your retirement. There are limits on the amount you can put into the account and withdrawal per year. The Internal Revenue Service (IRS)Links to an external site. provides additional information and legalities for IRAs.

There are 2 different IRA accounts that you may open. 

  • Traditional IRA
    • untaxed income put into the account, taxed when taken out
  • Roth IRA
    • taxed income put into the account, no tax when taken out

Not all banks offer IRAs. Be sure to contact yours to learn more.  

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