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Retirement Planning

Individual Retirement Accounts (IRAs)

Whether you are getting close to retirement or just starting to plan, there are advantages to choosing an IRA option. An IRA is a personal savings plan that gives you tax advantages when you set aside money for retirement. CNB Trust and Investment Services offers both Roth and Traditional IRAs to meet your retirement needs.

Traditional IRA

  • $5,000 annual contribution limit ($6,000 if you are age 50 or older)
  • Contributions may be tax deductible
  • Required minimum distributions at age 70-1/2
  • Distributions are taxable

Roth IRA

  • $5,000 annual contribution limit ($6,000 if you are age 50 or older)
  • Contributions are made with after tax dollars
  • Tax-free distributions if held for at least 5 years and at least 59-1/2 years old
  • No required distributions

If you are retiring, leaving a job or have money left in a former employer's retirement plan, in most cases you have the option of rolling these dollars into an IRA. There are benefits to using an IRA to invest your retirement money instead of leaving it with your former employer's plan. Investing in an IRA may be the key to helping you achieve the kind of retirement that you desire.

We offer a range of investment choices including bonds, stocks and mutual funds. Allow our experienced and knowledgeable trust and investment experts to discuss those options with you.

Retirement Plans for Businesses

Retirement plans help to make saving for the future and building retirement security a little easier. Regardless of the size of your business, we have a retirement plan that will fit your needs. We offer SEP and SIMPLE IRAs and 401(k) plans.

Simplified Employee Pension - SEP IRA

  • Easy to set up and maintain
  • Low start-up and operating costs
  • Employer contributions
  • Flexibility–employer decides whether to make contributions year-to-year
  • Most employers, including self-employed, can establish a SEP

SIMPLE IRA

  • Low start-up and operating costs
  • Employers with 100 or fewer employees
  • Employee deferral permitted up to IRS limits
  • Employer match contributions required (formula applies)

401(k) Plans

  • Plan design & document support
  • Installation and plan conversion services
  • High level of employee deferrals permitted
  • Trust & recordkeeping services
  • Employee education

Contact CNB Trust and Investment Services for more details. Call 517-437-3371 or email today.

Securities & Insurance Products are: Not FDIC Insured · Not Bank Guaranteed · May Lose Value · Not a Deposit · Not Insured by any Government Agency