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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

  • $5,500 annual contribution limit ($6,500 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

  • $5,500 annual contribution limit ($6,500 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.

This product is not insured by the Federal Deposit Insurance Corporation. This product is not a deposit or other obligation of, or guaranteed by, the bank. This product is subject to investment risks, including possible loss of the principle amount invested.