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Exchange State Bank

Retirement Services

Regular IRA

  • Contributions are tax deductible for qualifying individuals
  • Principal and earnings taxed when withdrawn at retirement
  • Taxed at income tax rates in effect at distribution

Roth IRA

  • Contributions are NOT tax deductible at contribution time
  • Principal and earnings are not taxed when withdrawn at retirement

SIMPLE IRA (Savings Incentive Match PLan for Employees)

  • Contributions and earnings are taxed when withdrawn at retirement
  • Employers can match the employee contribution up to 3%
  • Taxed and treated the same as Regular IRA
  • The employee decides where the SIMPLE IRA funds are invested
  • WE OFFER A SAVINGS ACCOUNT FOR SIMPLE IRA CUSTOMERS
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