Menu

Retirement Planning

Face the future with confidence.

We make it easy for you to plan for retirement. Whether that’s helping you choose an IRA or keeping track of all your finances – we can create a flexible retirement plan that adjusts as your needs evolve.

Traditional IRAs

An interest-bearing, tax-deferred account for the purpose of saving money for retirement. IRAs may be CDs with certain restrictions and limitations, including a minimum amount of at least $500; Pinnacle Bank offers Traditional, Roth and Educational IRA’s.

Features:

  • Earns interest
  • Amount withdrawn is taxed at the time of withdrawal so you may be in a lower tax bracket at this time
  • Must begin withdrawing at age 70 ½
  • Non-working spouse can deposit up to $4,000 annually
  • Pays interest quarterly, semi-annually or at maturity
  • Automatically renewable
  • Interest may be paid by ACH, compounded, or deposited into the customer’s existing account
  • Annual contribution limits apply

Benefits:

  • Retirement Savings/Planning
  • Amount withdrawn can be taxed at that time and customer may be in a lower tax bracket at that time
  • IRAs from other institutions may be transferred here
  • Company retirement rollovers/401Ks may be deposited as IRAs
RothIRA

Roth IRAs

An interest-bearing account for the purpose of saving money for retirement. IRAs may be CDs with a minimum balance of $500.

Features:

  • May be withdrawn at 59 ½ years of age without penalty
  • Some withdrawals are tax-free
  • Pays interest quarterly, semi-annually or at maturity
  • Automatically renewable
  • Interest may be paid by ACH, compounded, or deposited into the customer’s existing account
  • Annual contribution limits apply*
  • Contributions are nondeductible, some withdrawals are tax-free
  • Good for those who will be in a higher tax bracket when they retire

*Contribution limits are set by the IRS

Benefits:

  • Retirement Savings/Planning
  • Amount withdrawn can be (on Traditional IRAs) taxed at that time and customer may be in a lower tax bracket at that time (Roth IRA is not taxed at withdrawal)
  • IRAs from other institutions may be transferred here
  • Company retirement rollovers/401Ks may be deposited as IRAs

escort - escort -

seo

-

Hekim Birliği