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Retirement Plans

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Individual Retirement Accounts (IRA) or a Roth IRA is an excellent savings tool to set aside funds for retirement.  Let us assist you in determining your needs for retirement and the appropriate retirement account to utilize to obtain your retirement 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 (IRA)

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 This investment option is an excellent way to save for retirement and the earnings grow tax-deferred until they are withdrawn.* Contributions can be tax deductible.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 allows the principal and earnings to continue to grow tax-deferred.

Roth IRAs

A Roth IRA is similar to a Traditional IRA in many ways, a major difference being the contributions to a Roth IRA are not tax-deductible. In addition, the earnings on a Roth IRA grow tax-free if certain criteria are met.












* Withdrawals at retirement are taxed as income.  Early withdrawals before 59 1/2 may incur an additional 10% penalty tax, exceptions apply.

To learn more about the risks and benefits of investing, consult your advisor. 

Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC, are: not deposits, not insured by FDIC or any other governmental agency, not guaranteed by Southern Michigan Bank & Trust, are subject to risk, and may lose value. Southern Michigan Bank & Trust and the Southern Financial Group are independent of Raymond James.

Raymond James financial advisors may only conduct business with residents of the state and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.  Raymond James’ Privacy Notice.