Offer Long-Term Savings with Business Individual Retirement Accounts (IRAs)

With an Individual Retirement Account (IRA) program from Consumers National Bank, you can help your team plan for a successful retirement. An IRA savings plan allows employees to save pre-tax and companies to offer a valuable benefit with smaller contributions and fewer administrative requirements than 401(k) plans.

Quick Facts about IRAs:

  • Shared funding by employees and employer (through a match up to 3% or contribution of 2% of compensation)
  • Competitive interest rates
  • Investments managed by employees
  • Available in Traditional (pre-or-after tax) or Roth (after-tax) contribution structures and as IRA savings or Certificate of Deposit (CD)
  • Ideal for small businesses with less than 100 employees
  • Easily set up and maintained with minimal to no administration expenses
  • Annual contribution limits
  • Additional catch-up contributions of $1,000 allowed for customers 50+
  • Penalty for early withdrawal
  • FDIC insured

Add an IRA program to your company benefits package today! For more information about IRA options from Consumers National Bank, contact our team. We'll help you structure a plan that fits your needs.