Retirement Planning

Traditional IRA

This basic Individual Retirement Account enables individuals to receive tax benefits as they save for their retirement nest egg. Contributions may be completely or partly tax deductible and earnings are tax free until the distribution of money from the account.

Roth IRA

This type of Individual Retirement Account enables individuals to receive tax benefits on their retirement savings. But unlike the traditional IRA, contributions to a Roth IRA are not tax deductible, but earnings are tax free as they accumulate, and at distribution.

SEP

This account is a Simplified Employer Pension plan that enables an employer to contribute to the retirement accounts of each employee, and a self-employed person to contribute to his/her retirement account. Contributions (up to specified limits) and earnings are not taxable until distribution of the funds.