Retirement

Help your employees prepare for their futures, and receive possible tax benefits for your business.

We know that you want to do all you can to make sure your employees are financially secure long after they retire. At First State Bank & Trust Company, we have the tools to help plan for your employees futures while giving tax benefits to your company at the same time.

Traditional IRA

With a Traditional IRA, you may be allowed to make tax-deductible contributions within the annual contribution limits to your account, allowing you to defer taxes on the earnings until withdrawn. In addition, IRAs are insured separately from your other bank accounts, up to $250,000, effective April 1, 2006.

  

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Roth IRA

A Roth IRA allows you to make nondeductible contributions within the yearly limits and features allowable withdrawals for certain distribution reasons after a five-year holding period and attaining 59 1/2.

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SEP

A Simplified Employement Pension (SEP) Plan is a great retirement savings tool that allows your employer to make contributions to your IRA. These contributions are not considered income to you and you will not be taxed on them until distribution.

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