AuburnBank can help achieve your financial goals with an Individual Retirement Account (IRA). IRAs are one of the best tools to help you fund your retirement. When you contribute regularly to an IRA, tax-deferred compounding allows your money to grow faster. We offer Traditional, Roth and Simplified Employee Pension plans.
An individual retirement account that allows individuals to direct pretax income, up to specific annual limits, toward investments that can grow tax-deferred (no capital gains or dividend income is taxed).
An individual retirement plan that bears many similarities to the traditional IRA, but contributions are not tax deductible and qualified distributions are tax free.
A retirement plan that an employer or self-employed individuals can establish. The employer is allowed a tax deduction for contributions made to the SEP plan and makes contributions to each eligible employee’s SEP IRA on a discretionary basis. Contact an AuburnBank representative at one of our convenient locations to help you with your IRA needs.
For more information on IRAs, such as contribution limits and catch up provisions, visit the IRS IRA publication website.
