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Adrian State Bank

Individual Retirement Accounts

At Adrian State Bank we offer different types of IRAs. Discover new and better ways to save for your future with Traditional, Roth, Educational, Simple and SEP IRAs. An IRA is a savings plan that lets you prepare for retirement. Your contributions may be tax deductible.

Traditional IRA

The Traditional IRA is an account that allows you to defer taxes on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which they are made.

Roth IRA

The Roth IRA allows only nondeductible contributions and features tax-free earnings after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a Traditional IRA.

Retirement Plans

If you are self-employed or employed by a business, there are plans available for retirement investments with tax savings:

  • SEP - Self-Employed Retirement Plans
  • SIMPLE - Small Business Retirement Plans