Retirement Planning
The right decisions now can make a big difference in your retirement later. Find out how to plan for a comfortable and secure retirement with help from one of our Financial Advisors.
Individual Retirement Accounts (IRAs)
- Take advantage of multiple tax benefits
- Contribute up to $5,000 or 100% of earned income, whichever is less
- Customers age 50 and over are eligible for an additional contribution of $1,000
- Contributions may be tax deductible up to certain income limitations
- Invest in a wide variety of investment options
- Check with your tax advisor to see if you're eligible for a tax deduction
401(k) and IRA rollovers
Moving your 401(k) or IRA can be daunting. The tax laws are confusing and you may not know the best alternative for your retirement funds. We can help you select the right option and do all the paperwork.
- Rollover assets from a previous employer's qualified retirement plan without taxes or penalties
- Efficiently handle distributions when you are ready to retire
- Protect your assets from taxes and penalties when changing jobs, retiring, or receiving a distribution from an employer's retirement plan
- All 401(k) rollovers must be implemented within 60 days to avoid taxes and penalties
Qualified tax-deferred investments
Depending on your employment situation, a qualified tax-deferred investment account might be the answer. We can help you establish Individual Retirement Accounts (IRAs), Simplified Employee Pension Plans (SEPs) and Tax Sheltered Annuities (TSAs).
Simplified Employee Pension Plan (SEP)
- A retirement plan for the self-employed, and small business owners plus their employees
- Employer makes annual contributions of up to 25% of eligible employees' compensation to a maximum of $46,000 per participant
- Employer contributions are tax deductible as a business expense
- Earnings are tax deferred for the employee
- A wide range of investment options are available
- Check with your tax advisor to see if you're eligible for a tax deduction
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