The need to save for a secure tomorrow and combined with the advantage of tax-deferred earnings make our IRA investments a real attractive opportunity for our customers.

The Markesan State Bank has a fully staffed department at both our locations to answer all your IRA questions. We offer variable rate or fixed rate investments, and charge no annual fee. You will receive an annual statement that reviews the year's history in detail.

We offer both the Traditional and Roth Individual Retirement Accounts. 

Under the Traditional IRA, contributions may be partially or fully tax deductible, but distributions are generally taxable.

Under the Roth IRA contributions are not deductible, but distributions can generally be withdrawn tax-free.

Here are a few key points to each of the Individual Retirements Accounts that can help you decide which IRA is right for you.

Traditional IRAs

--Often contributions are 100% deductible
--Earnings grow tax-deferred
--Distributions are generally taxable, but penalty-free if withdrawn under one of the following circumstances:
1-attaining age 59½
2-incurring a disability
3-payment for certain health insurance, medical expenses, and higher education expenses
4-payment for a first home purchase
5-payment to beneficiaries

--Distributions are required to be taken by Traditional IRA holders beginning at age 70½.

Roth IRAs

--Contributions are never deductible
--Earnings can grow tax-free
--Contributions can generally be distributed tax-free at any time.
--Earnings can be distributed tax-free if the Roth IRA holder first made a Roth IRA contribution at least five years prior to any of the following events.
1-attaining age 59½
2-incurring a disability
3-purchasing a first home, or
4-death (payments to beneficiaries)

--Distributions are not required to be taken by Roth IRA holders at age 70 ½.

We want our customers to enjoy the security of a sound retirement package and are happy to assist you when choosing a retirement plan that will meet your needs.