Because we offer a wide range of Individual Retirement Accounts
(IRAs) and Certificates of Deposit (CDs), you can choose
the terms that suit you best.
With a minimum deposit of as little
as $500 you can begin earning a maximum return on your investment.
Whether it's part of your retirement plan or a shorter term financial investment; why not make sure your money is working for you?
Call one of our friendly investment
professionals at
1-847-888-7950 for answers to your investment questions.
Traditional IRA
Enjoy the tax-deferred earnings and tax deductibility
of a traditional IRA account. Individuals under the age of 70.5
with earned income can contribute to a traditional IRA. Contributions
may be tax deductible, depending on your adjusted gross
income and participation in an employer-sponsored retirement plan.
Taxes are deferred until you begin to withdraw funds from the account.
Must be 70.5 years old or less with earned income.
Tax-deferred earnings until withdrawn.
Tax deductible contributions (see requirements).
Start saving for tomorrow today with a call to
one of our friendly investment
professionals at 1-847-888-7950.
Maintain the tax-deferred status after the distribution
of funds from a company retirement plan by putting it
into a Rollover IRA. It's easy and risk-free.
Let us help you invest your hard-earned retirement funds without
the risk of losing its valuable tax-deferred status. No age requirements.
No penalties on funds from company retirement plan.
Maintain tax-deferred status.
No age restrictions.
Discuss your Rollover IRA options today with
a call to one of our investment professionals
at 1-847-888-7950.
Because the money you put in your Roth IRA is non-deductible and
made 'after taxes,' there's no additional tax
on your earnings from Roth IRA investments. Most withdrawals from
your Roth IRA are tax-free, subject to certain
restrictions.
'After tax' contributions aren't taxed again.
Earnings aren't taxed.
Tax-free withdrawals (some restrictions apply).
Maintain tax-deferred status.
Set up your Roth IRA--call one of
our investment experts today at 1-847-888-7950.
A SEP is a separate retirement plan that allows a business to
contribute money into an employee's IRA. The employer establishes
a SEP and is responsible for properly administering the
plan. SEPs allow self-employed individuals and businesses to deduct
SEP contributions, and self-employed individuals or employees
of a business may receive a SEP contribution to their IRAs at any
age (no 70.5 restrictions).
Businesses may contribute directly to employee IRA.
Employer administers SEP.
Businesses/self-employed may deduct SEP contributions.
No age restriction for contributions (see requirements).
Set up an SEP for your employees today by calling
one of our investment experts at
1-847-888-7950.
This lets you set aside money (on a tax-favored basis)
to pay for higher education expenses. Though your contributions
are not tax deductible, earnings grow tax-free if
funds are properly used to meet educational expenses. The maximum
contribution on behalf of a child is $2,000 for a given year.
Tax-favored contributions.
Tax-free earnings for education costs only.
$2,000 annual limit per child.
Open your Coverdell Savings Account today with a call to
one of our investment experts
at 1-847-888-7950.
Elgin State Bank | 1001 S. Randall
Road | Elgin, IL 60123 USA | Phone: 1-847-888-7950
