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Individual Retirement Plans

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Individual Retirement Accounts (IRAs) and Roth IRAs are excellent savings tools to set aside funds for retirement.  Let us assist you in determining your needs for retirement and choosing the appropriate account to obtain your goals.  Our group assists many retirees, or employees changing jobs, in transferring their former employer’s retirement plan account to their own IRA.

Individual Retirement Accounts (IRAs)

An IRA is an Individual Retirement Account, established by an individual to provide for his or her own retirement. This investment option is an excellent way to save for retirement and the earnings grow tax-deferred until they are withdrawn. Contributions can be tax deductible.

IRA Rollovers

A rollover IRA allows you to transfer funds from a qualified retirement plan such as a pension, profit sharing, or 401(k) plan into an individual IRA when changing jobs or retiring. The rollover continues the principal and earnings growing tax-deferred.

Roth IRAs

A Roth IRA is similar to a Traditional IRA in many ways, the major difference being the contributions to a Roth IRA are not tax-deductible, which also means that the earnings in a Roth IRA accumulate tax-free.

Retirement Planning

We can help answer all your questions regarding retirement planning and saving. You also have access to a full range of products as well as numerous investment options.

For more on these and other related topics, read our helpful brochure about Southern's investment management and trust services.









Products provided by Southern Michigan Bank & Trust’s Wealth Management department are not FDIC insured. They may lose value and there is no bank guarantee.