Whatever your retirement goals or current financial situation entails, Belmont Savings Bank has the personal retirement account that you need. With our retirement plans, your money can earn interest at attractive rates. In some instances, interest is tax deferred until you withdraw. All deposits for both traditional IRA accounts and ROTH IRA accounts are fully insured by FDIC and by DIF.
The Traditional IRA retirement plan account is a special tax deferred savings account. The money within a Traditional IRA accumulates and grows tax deferred until the time of distribution. If money is taken from this personal retirement account after the age of 59½, then there is no tax penalty. If taken prior to the age of 59½, it may be subject to a penalty tax, depending on the reason for early withdrawal.
A ROTH IRA personal retirement account is a
The Coverdell Education Savings Account is a special tax deferred savings account. There are certain eligibility rules for this personal retirement plan that must be met in order to contribute, such as the account must be set up for someone younger than age 18 and the contributor must meet income limits.
A Simplified Employee Pension Plan IRA is a personal retirement plan established by an employer. A one-person business is considered an employer for these purposes and may establish