Individual Retirement Accounts / IRAs
Citywide Banks offer a variety of IRA investment choices including an IRA Variable Rate Account that enables you to make deposits throughout the year. IRA contributions may also be tax deductible.*
IRA accounts 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.
Simplified Employee Pension (SEP) Plans
A Simplified Employee Pension (SEP) Plan is a retirement plan that provides employers a means of providing tax-deductible* contributions to employees' Individual Retirement Accounts. SEP plans can be a valuable component of your business' employee benefit package.
* Consult with your tax advisor regarding deductibility of contributions.
Looking for information about a tax-deferred Health Savings Account? Health Savings Accounts