Individual Retirement Account (IRAs) Options
Saving and planning for the future is easier when you invest in an account with tax benefits! Our Individual Retirement Accounts are such an account, and are designed both for those who can invest funds for retirement and for those who have rollover funds from a qualified retirement program such as a 401(k) or a Simplified Employee Pension (SEP) Plan!
IRA Features:
- IRA Certificate of Deposit options with maturity terms from 90 days to 60 months.
- Tiered higher interest rates for larger deposit amounts.
- IRS regulations apply.
* IRA Certificates of Deposit (CDs) are subject to penalty for early withdrawal.
Account Options:
- Traditional IRA – Defer taxes on your earnings until they are withdrawn. If you qualify, your contribution may be tax-deductible.
- Roth IRA – Take advantage of tax-free earnings as they accumulate or when they are withdrawn! This option is designed for people in higher tax brackets, provided you follow the IRS withdrawal stipulations (Are at least 59½ years old and the IRA account has been opened at least 5 years).
For more information on any of our Individual Retirement Accounts, please contact a Security State Bank staff member.
