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Employee Pension and IRA Accounts

Tax-Advantaged Savings Plans that Make Sense for Your Business

One of the best things you can do for your employees is help them set aside money for their retirement. Offer them Pension Plan or IRA from First Commercial Bank, N.A (USA), and you'll have more great options for attracting and retaining employees.

All contributions are tax-deductible for employers and earnings are tax deferred until they're withdrawn. Best of all, these IRAs are simple to set up and administer – with no extra IRS reporting necessary.

The Benefits Add UP:

• Helps employees prepare for retirement
• Offer tax-advantaged savings to employers and employees
• Available at any of our branches
• Federal deposit insurance up to FDIC limits
• Talk to your tax advisor to learn more about how IRA Accounts can benefit your business.

Choose the Account that Works Best for Your Business:

Employee Pension Plans
American Insurance and Investments utilizes LPL Financial to provide access to traditional pension plans. With these employer-sponsored and funded retirement plans, retirees are paid a fixed amount, based on the number of years worked and salary history.

Employee Pension IRA (SEP)
A simplified Employee Pension Plan (SEP) is a retirement plan set up by an employer for the benefit of the employees. Once it's established, employers may make SEP deposits into each employee's IRA as well as their own.

Employee Savings Match IRA (SIMPLE)
A SIMPLE IRA is a retirement plan set up by an employer for the benefit of employees. Each employee must maintain an individual retirement account into which contributions are funded. The employer must have 100 or fewer employees.

Bank IRAs^†

• Offered through First Commercial Bank, N.A (USA)
• FDIC-insured accounts
• Fixed terms

Brokerage IRAs^††
Traditional IRA's are funded with tax deductible contributions in which any earnings are tax deferred until withdrawn. Roth IRAs are funded with non-deductible contributions, but as with Traditional IRAs, all earnings are tax deferred. Unless certain criteria are met, restrictions, IRS penalties and income taxes may apply on any withdrawals taken from IRAs prior to age 59 1/2.