IRA's are a terrific
way to start saving for your future, they can also offer
customers tax advantages to set aside money for retirement.
The Roth IRA is a nondeductible account that also allows
tax-free earning power and withdraws on various distributions
after a five- year holding period. To open a Roth IRA you must
have earned income and your modified adjusted gross income
cannot exceed certain limits.
The Traditional IRA allows you to save on taxes now and have
greater retirement income for the future. The Traditional IRA
also allows married couples filing joint returns to establish
their own IRA with a maximum contribution to each.
The SEP IRA is an option for the self-employed. To be eligible
for a SEP, you need not have employees but there are federal
annual contribution limits, check with your accountant on your
Please call McCurtain County National bank at any location to
receive additional information on our IRA's. They will be
happy to answer any questions you have and give you the
specific requirements with the current interest rates.