Retirement account options at CornerBank include:
Traditional IRA’s are a tax deferred account that will allow you to contribute on a tax deferred basis. Both contributions and accumulated earnings remain tax deferred until the time of withdrawal. The annual contribution is capped at $5500 per year with an additional catch-up amount of $1,000 per year for those ages 50 and older. Some restriction may apply so you should review your personal situation.
ROTH IRA’s are an after tax contribution to an IRA account with the earnings growing tax deferred and eligible to be distributed tax-free at the time of withdrawal. To receive tax-free withdrawals the account must be in existence for 5 years and withdrawals starting after age 59 ½. The same contributions limits apply to the ROTH IRA as for the Traditional IRA.
IRA Rollovers are designed to hold assets that were accumulated in employer sponsored retirement plans rolled to either a traditional or ROTH IRA once the account owner has separated from service on the employer plan. These IRA accounts are very good for consolidating old 401k, 403b accounts into one IRA where the customer can take advantage of increased investment opportunities and potentially lower cost. An advisor can discuss all of your options and help you choose the one that is right for you.
- SIMPLE IRA Plans
- 401K & 403B Plans
Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFGIS Insurance Agency), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investment services are offered. Investments are: *Not FDIC insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government agency. Advisory Services may only be offered by Investment Adviser Representatives. Located at: 900 Main St, Winfield, KS 67156, 620-221-5076
Investment Executives are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with, residents of other states will only be made upon compliance with applicable licensing and registration requirements. The information on this website is for U.S. residents only and does not constitute an offer to purchase brokerage services to persons outside of the United States.