Jefferson Bank
Business Services

Retirement Plans

As the workforce in America ages, retirement plans become more important than ever. Whether you’re looking for an individual IRA plan or the benefits of Investment Management and Trust Services, Jefferson Bank offers a menu of retirement plans. The following information is not a complete listing of the features and benefits of each plan. Please contact us at 573-634-0800 for additional information.

Traditional IRA
A Traditional IRA is an excellent supplement to an individual’s retirement income. Making contributions is flexible, so individuals can choose when they want to fund the Traditional IRA. Contributions to a Traditional IRA may be tax deductible, and earnings grown on a tax-deferred basis.

Roth IRA
Unlike the Traditional IRA, earnings accrued by the Roth IRA are tax-free for qualified disbursements. The Roth IRA is an excellent supplement to an individual’s retirement, however, unlike the Traditional, contributions to the Roth IRA plan are made with after-tax dollars.

401K
Flexibility in matching employee contributions is a strength of this personal pension plan. Most employers match a percentage or fixed dollar amount that employees contribute to the plan.

SEP IRA
Simplified Employee Pension plan (SEP) is considered as a type of business retirement plan. A SEP allows employers to make contributions to their own IRA and to IRAs that their employees set up and control. Contributions to a SEP are tax deductible, and the money contributed grows tax-deferred until withdrawn, typically at retirement.

SIMPLE IRA
Savings Incentive Match Plan (SIMPLE) is designed to help small businesses (fewer than 100 employees) by having simplified reporting requirements and a plan that will not be subject to fiduciary liability for the plan decisions made by contributing employees. Self-employed business owners (with no other employees) also are eligible to open a SIMPLE plan.

Investment Management and Trust Services
Based upon your personal income needs, desired asset growth, income tax status, and risk tolerance, a highly specialized and experienced management team will help you put together a comprehensive plan designed to help you achieve your financial retirement goals.