Advantage Community Bank offers a variety of IRA options. Call one of our experienced IRA specialists to help you determine your best plan.
- 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- Funds can be withdrawn after age 59 1/2 without a tax penalty.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.
- 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
Advantage Community Bank allows you to add contributions to your existing IRA at any time.
- Retiring or Leaving a job? We offer Rollover IRAs to help you maintain tax deferral on your 401k or other employer-sponsored retirement plan.