Individual Retirement Accounts / IRAs:
Citywide Banks offer a variety of IRA investment choices varying from an IRA Variable Rate Account that allows you to make deposits throughout the year to several time certificate options. Contributions you make may also be tax deductible.*This type of account may be subject to substantial early withdrawal penalties. Additionally, funds taken from the account prior to the holder reaching minimum retirement age may be subject to IRS tax penalties.
SEP Plans:
A Simplified Employee Pension (SEP) Plan is a type of retirement plan which provides you, the employer, an important employee benefit for you and contributions you make under the plan may also be tax deductible.* Amounts contributed by you for your employees under the SEP are deposited into your employees' IRAs. Enhance your employee benefits with a SEP plan today.* Consult with your tax advisor regarding deductibility of contributions.
