Retirement Account Services
Secure your financial security, and start saving with Community Business Bank’s Individual Retirement Accounts (IRAs) and Retirement Plans.
No taxes are paid on IRA earnings each year as the account continues to grow, the account compounds far more rapidly than regular savings accounts, where current earnings are taxed yearly. This allows your IRA to grow rapidly through your working years to provide substantial income for your retirement.
Individual Retirement Accounts:
- Traditional IRA
- Roth IRA
- CESA (Coverdell Education Savings Account) IRA
Retirement Plans for your business:
- SIMPLE (Savings Incentive Match Plan for Employees of Small Employers)
- SEP (Simplified Employee Pension Plan)
Please Note: Clients are advised to consult their tax advisors regarding the tax implications for their individual situations.
The applicable limits are updated annually in IRS Publication 590, available at www.irs.gov.