Offer Long-Term Savings with Business Individual Retirement Accounts (IRAs)

With an Individual Retirement Account (IRA) program from Consumers National Bank, you can help your team plan for a successful retirement. An IRA savings plan allows employees to save pre-tax and companies to offer a valuable benefit with smaller contributions and fewer administrative requirements than 401(k) plans.

Quick Facts about IRAs:

• Shared funding by employees and employer (through a match up to 3% or contribution of 2% of compensation)
• Competitive interest rates
• Investments managed by employees
• Available in Traditional (pre-or-after tax) or Roth (after-tax) contribution structures and as IRA savings or Certificate of Deposit (CD)
• Ideal for small businesses with less than 100 employees
• Easily set up and maintained with minimal to no administration expenses
• Annual contribution limits
• Additional catch-up contributions of $1,000 allowed for customers 50+
• Penalty for early withdrawal
• FDIC insured

Add an IRA program to your company benefits package today! For more information about IRA options from Consumers National Bank, contact our team. We'll help you structure a plan that fits your needs.

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