IRA (Individual Retirement Accounts)

Advantage Community Bank offers a variety of IRA options. Call one of our experienced IRA specialists to help you determine your best plan.

Traditional IRA

  • Earnings on a Traditional IRA are tax-deferred.
  • Contributions may be tax-deductible depending upon your income and whether or not you have a qualified retirement plan.
  • Funds can be withdrawn after age 59 1/2 without a tax penalty.
  • Distribution must be taken beginning at age 70 1/2.

Roth IRA

  • Allows only nondeductible contributions
  • Tax-free "Qualified" withdrawals after 5 year holding period
  • Distributions are NOT required to be taken at age 70 1/2.

Simplified Employee Pension (SEP) Plan

  • A SEP is a retirement plan established by an employer or a self-employed individual
  • The employer contributes a percentage of compensation for each eligible employee

Direct Rollovers / Transfers

  • Retiring or Leaving a job? We offer Rollover IRAs to help you maintain tax deferral on your 401k or other employer-sponsored retirement plan.
Advantage Community Bank allows you to add contributions to your existing IRA at any time.

 

 
 

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