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The
Peshtigo National Bank can help you plan for your future. We encourage
our customers to meet their retirement goals by opening an IRA
account. Making yearly deposits of $500 or more will help your
"nest egg" grow and your financial outlook more secure.
We offer three different IRA plans, to help with your retirement
plans, education expenses, or future needs. Select the one that
is right for you.
- Terms 3-60 months
- $500 Minimum deposit required
- 10 Day grace period for renewals
- Penalty for early withdrawal
- No penalty for 59 ½ or required distributions
- Eligible to those younger than 70 ½ and has earned
income
or the spouse of someone who has earned income.
- "Catch up" contributions for individuals 50 and
older
- Contribution limits changing yearly – Check with us!
- Contribution deductions dependent on tax status
- Terms 3-60 months
- $500 Minimum deposit required
- 10 Day grace period for renewals
- Penalty for early withdrawal
- A non-deductible account that features tax free withdrawals
for
certain distribution reasons after a 5 year period.
- No required minimum distribution at age 70 ½
- No age limit for contributors
- Distributions of earnings are tax free when qualified
- Created to save for individual’s education expenses
- Contributions may continue until the child reaches 18
- Contributions are non-deductible
- Distributions for qualified education expenses are tax-free
- Qualified distributions are not subject to a 10% penalty
tax
- Check with your tax professional to determine if this is
right for you
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