At First State Bank & Trust Co., we offer you several solutions to help make your golden years financially secure. By opening an IRA with First State Bank & Trust Co., you have the option of contributing a portion of your income to an IRA. Below you can learn about the different types of IRAs we offer. 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contributions within the annual contribution limits to your account, allowing you to defer taxes on the earnings until withdrawn.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. 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. A Coverdell Education Savings Account (CESA) allows you to make nondeductible contributions up to $2,000 a year to pay for your child's education. Earnings grow tax-free and may be withdrawn for qualified education expenses. Some other restrictions may apply. 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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