About Us Community Spot Light On Senior Services
Personal Banking
Business Banking
Online Banking
Loans
Investments
Calculators

Save money buying fewer stamps and checks...Use our Bill Pay to make your payments!


Retirement Plans
IRA Newsletter


Retirement Plans

Traditional IRAs

An Individual Retirement Account is an account which allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which they are made.

ROTH IRAs

A ROTH IRA is a newer Individual Retirement Account where contributions are non-deductible, but all withdrawals, including earnings are tax-free if the account has been open for five years and the account holder is 59 ½ or older.

Maximum Annual Contributions for Traditional & ROTH IRAs
    2016 2017
Individual   $5,500.00 $5,500.00
Married/Spouse   $11,000.00 $11,000.00


"Catch-Up" Contributions for Traditional and ROTH

Workers 50 and older before the end of the taxable year can make up for lost time with additional IRA contributions over and above the maximums above:

For year 2016 and thereafter $1,000.00

Rollovers and Transfers

Rollovers and Transfers offer opportunities to move your retirement assets to where you want them, while retaining their substantial tax advantages. Assets that can be moved or consolidated are qualified plans, tax-sheltered annuities, and IRAs.

SEP (Simplified Employer Pension)

SEP is a retirement plan established by an employer. Any employer, whether a corporation, partnership, or a self-employed individual, may establish a SEP, even if there are no other employees. Each year, the employer may contribute a certain percentage of each eligible employee's compensation directly to the employee's IRA. It is simple to establish and maintain with minimal administration costs.

Withdrawals from an IRA prior to age 59 1/2 may subject the participant to an income tax liability and federal tax penalty. Consult your tax advisor for advice.

<< BACK TO TOP



IRA Newsletter

Click on the link below for our informative IRA Newsletter.

IRA Newsletter



Member FDIC

State Bank of Arcadia
Phone: (608) 323.3331 — Fax: (608) 323.3110

Privacy PolicyTerms of Use

Home Personal BankingBusiness Banking
Online BankingLoansInvestmentsCalculators
About UsCommunitySpot Light OnSenior Services


Equal Housing
Lender
Notice: The bank is not responsible for and has no control over the subject matter, content, information, or graphics of the web sites that have links here. The portal features are being provided by an outside source - The bank is not responsible for the content.Please contact us with any concerns or comments.
Powered by ProfitStars