Traditional IRAs (Not employer-sponsored)
The most basic IRA can be used as a tax-deferred retirement plan, or customers can use it to roll over funds from another qualified plan. Contributions to Traditional IRAs may be tax-deductible, and no taxes are assessed on gains or earnings until the funds are taken out of the IRA.
Roth IRAs (Not employer-sponsored)
Contributions made to Roth IRAs are not tax-deductible; however, earnings accumulate tax-free. Distributions may also be tax-free if the customer satisfies some specific requirements.
A SEP (Simplified Employee Pension) IRA is a Traditional IRA set up under a written arrangement that allows employers to contribute to the IRA on the employee's behalf (employer contributions may be discretionary). Generally, SEP IRAs have the same rules and requirements as Traditional IRAs.
Rollovers and Transfers
ANB can help individuals set up a ROTH or Traditional IRA to keep retirement savings on track during life transitions — and make the entire process seamless.
Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC, an independent broker/dealer, and are:
Amarillo National Bank and Raymond James Financial Services are independent entities.
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