Individual Retirement Accounts (IRAs)
Planning for your retirement is easy with a Home State Bank Individual Retirement Account. An IRA promises an income that will be available in addition to government (Social Security) or employer's pensions. If you have W-2 wages, you may establish an IRA with us for as little as $50. Because we offer a wide variety of IRA certificates of deposit with maturities to suit your individual needs, saving for your "golden years" is easy and affordable. Your Home State Bank IRA offers the benefit of tax-deferred interest earnings. IRA's are insured separately from other bank deposits up to $250,000 through the FDIC and a substantial interest penalty applies to an early withdrawal.
Simplified Employee Pensions (SEPs)
A Simplified Employee Pension (SEP) plan is an IRA funded by an employer to provide a tax benefit for the business in addition to retirement benefits for the employees. We offer the same variety of certificates of deposit for our SEPs as we do for our IRA's. SEPs and regular IRA's are jointly insured through the FDIC up to $250,000.
Deposits Insured by the FDIC.
Self-Directed IRAs
If investments other than certificates of deposit suit your retirement needs, our Trust Department offers Self-Directed IRA's. For more information, please contact a Trust Officer.
Our IRA consultants are ready to answer your IRA and SEP questions and to help you establish a retirement plan that is right for you. Call or stop in and see us today.
Contact your tax advisor for specific tax benefits.
