Home > Personal Banking > Retirement Accounts
|
 |
Individual Retirement Accounts (IRAs) are special savings plans to help customers accumulate funds for retirement years. From Coverdale Education Savings Accounts to Roth IRAs and Traditional IRAs, The Farmers Bank offers a full line of IRA products. Simply see any of our New Account Representatives. We can explain the nature of these accounts in more detail and help you complete the simple forms necessary to establish your IRA.
|
| Traditional IRA - The traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which you make them. |
| Roth IRA - The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. |
| Coverdell Education Savings Account - The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific purpose - a child's education expenses. |
|
Home > Personal Banking > Retirement Accounts
|
