Don't leave your financial future to chance. Come by First State Bank & Trust Company today to start planning for your retirement. The time to start is now!

At First State Bank & Trust Company, we offer you several solutions to help make your golden years financially secure. By opening an IRA with First State Bank & Trust Company, 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.

 Please refer to your tax professional for advice.

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contributions within the annual contribution limits to your account, allowing you to defer taxes on the earnings until withdrawn.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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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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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 Earnings grow tax-free and may be withdrawn for qualified education expenses.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.

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A Simplified Employment 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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