Now's the time to make a tax-sheltered investment in your future. First Bank's Traditional IRA allows you to make contributions, plus your earnings grow tax-deferred until retirement age. After meeting the eligibility requirements, you may be able to make tax deductible contributions. Choose a fixed-rate or variable-rate retirement certificate to meet your specific retirement needs.

Features:

• A Traditional IRA (Individual Retirement Account) is a personal savings plan that offers tax advantages to set money aside for retirement. Tax on earnings is deferred until the funds are withdrawn. Your Traditional IRA contribution may qualify you for a tax credit.
• You can open a Traditional IRA if:
  • You are under age 70 ½ in the year you make a contribution
  • You have earned income (wages, tips, vacation, sick days, bonuses as reported on form W-2). Taxable alimony and separate maintenance payments are also earned income
• Each year you may contribute any amount up to 100% of your annual earned income or up to the maximum contribution limits allowed by law for the contribution year, whichever is less.
• Traditional IRA contributions are combined with any Roth IRA contributions for the year and the total amount may not exceed 100% of your annual earned income or up to the maximum contribution limits allowed by law for the contribution year, whichever is less.
• The total maximum IRA contribution limit per individual for all types of IRAs by tax year is:

• You qualify for a tax-deductible contribution if:
  • You are not an active participant in an employer-maintained retirement plan for the year
  • You are an active participant in an employer-maintained retirement plan for the year and your Adjusted Gross Income is below certain threshold level

To find out more about Traditional IRA's, call or visit the First Bank location nearest you.