Having and contributing to a retirement savings plan is an important part of retirement planning. At Central State Bank, we have extensive experience in assisting with wealth management, and we offer a variety of retirement plans, including Traditional IRAs, Roth IRAs, and SEP IRAs.
The team at Central State Bank is here to help you find the best IRA account option for your retirement plans. Learn more about our IRA options below, including IRA contribution limits and IRA investment benefits.
Traditional IRA
A Traditional IRA is a retirement account where your IRA contributions can be pre-tax or after-tax dollars, and then your IRA withdrawals are taxed as current income at retirement age. Features of a Traditional IRA at Central State Bank include:
- No annual maintenance fee
- Flexible terms
- Tax advantages (consult your tax advisor)
- Fixed-interest rate accounts
- Accounts automatically renew at a rate in effect at the time of maturity
- Online Banking & Mobile Banking
- 24-hour telephone banking
Penalties may be assessed for early withdrawals. View our Traditional IRA calculator to learn more.
Roth IRA
A Roth IRA is a retirement account where you pay taxes when contributing to your account, and then your IRA withdrawals are tax-free. Features of a Roth IRA at Central State Bank include:
- No annual maintenance fee
- Flexible terms
- Tax advantages (consult your tax advisor)
- Fixed-interest rate accounts
- Accounts automatically renew at a rate in effect at the time of maturity
- Online Banking & Mobile Banking
- 24-hour telephone banking
Penalties may be assessed for early withdrawals. View our Roth IRA calculator to learn more.
SEP IRA
A SEP IRA, or Simplified Employee Pension IRA, provides business owners with an easy way to contribute to their employee's retirement plans. In addition, a SEP IRA provides employers with certain tax benefits. Features of a SEP IRA at Central State Bank include:
- No annual maintenance fee
- Flexible terms
- Tax advantages (consult your tax advisor)
- Fixed-interest rate accounts
- Accounts automatically renew at a rate in effect at the time of maturity
- Online Banking & Mobile Banking
- 24-hour telephone banking
Penalties may be assessed for early withdrawals. View our 401K savings calculator to learn more.
If you’re ready to open an IRA but still have questions, we can help you understand your options. From comparing Traditional IRAs and Roth IRAs to understanding IRA deductions, Central State Bank is here for you as you take this important step in retirement planning.