Individual Retirement Accounts

At JCB, we want to help you achieve your financial goals.

Individual Retirement Accounts (IRAs) have been an excellent choice for tax deferred savings since the Traditional IRA was introduced in 1975. Additional consumer choices of Roth and Coverdell Education Savings Accounts were added in 1998. JCB offers these as well as SIMPLE IRAs and SEP plans to meet both individual and employer needs.

Traditional IRAs

  • May offer a deduction towards current year tax liability
  • Deferred taxation on contributions and earnings
  • Catch-up contributions are available after age 50

Roth IRAs

  • The right choice for those seeking tax free earnings on their
    retirement savings
  • Catch-up contributions are available after age 50

Coverdell Education Savings Accounts

  • A great way to save for a child’s education including tax
    free earnings

Simple IRA

  • An employer plan by which employees may make salary deferrals
    towards retirement
  • An employer contribution required
  • Catch up contributions available
  • Increased contribution limits allowing greater savings towards your retirement goals

SEP (Simplified Employer Plan)

  • Another way of funding a Traditional IRA
  • Employers make SEP plan contributions to eligible employees’
    Traditional IRAs
  • A business, corporation, partnership, or self-employed person
    may have an SEP IRA
  • The sole proprietor of a business with no employees can also
    open an SEP IRA
  • Tax advantages available for employers offering a SEP Plan
  • Contribution limits increased allowing greater savings towards
    your retirement goals

IRA money may be invested in a variety of ways at JCB

  • Regular IRA accounts
    • Invested in Certificates of Deposit (CDs)
    • FDIC insured
    • Available through customer service at any JCB banking center
  • Self-Directed IRA accounts
    • Invested in IRA eligible stocks, bonds, and mutual funds in addition to CDs
    • Offered through JCB Investment Management and Trust Services
  • Managed IRA accounts
    • Held within a managed investment portfolio of stocks, bonds, and mutual funds
    • Offered through the JCB Investment Management and Trust Services

* Investments in stocks, bonds, and mutual funds are not deposits or obligations of JCB and are not guaranteed by JCB. These investments may involve risk or loss and are not covered by FDIC insurance.