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Retirement Accounts

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Start Saving For Your Retirement

Am I saving enough for my retirement? Can I retire when I want? How long is my retirement going to last? If you don’t know the answers to these questions, we can help. Iowa State Bank offers a wide range of retirement accounts to help our customers when they retire. Please contact us to learn more about your retirement account options.

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Your Retirement Account Options

Account Type

What You Need to Know About This Account*

Traditional IRA

Great way to support a personal retirement plan.

Persons of any age may be eligible to contribute

Earnings grow tax-deferred.

Annual contributions may be tax-deductible.

Roth IRA

Powerful combination of retirement savings tax benefits.

Persons of any age are eligible if they meet certain income criteria.

Contributions are not tax-deductible.

Earnings grow tax-free.

No tax or penalties on qualified withdrawals.

SEP Account

Low-cost alternative for retirement savings.

Self-employed or small business owners are eligible to establish a SEP for themselves and their employees.

Contributions and earnings grow tax-deferred until withdrawn.

Simple IRA

Ideal for small employers who do not currently sponsor a retirement plan.

Easy to set up and low administrative costs.

Employees and employers are eligible to make contributions for employees.

Coverdell Education Savings Account

Tax-free way to save for a child’s educational expenses.

Funds can be used for qualified expenses related to elementary, secondary and college education.

Contributions are not tax-deductible.

No tax or penalties on qualified withdrawals.

*Please consult your tax advisor