Individual Retirement Plans
Traditional IRA:
Alpena Quality Traditional IRA
Choose a Term from 12 to 60 Months
Earns a competitive rate of interest
FDIC Insured
Alpena Variable Traditional IRA Savings Account
Earns a competitive rate of interest
FDIC Insured
ROTH IRA:
Alpena Quality ROTH IRA
Choose a Term from 12 to 60 Months
Earns a competitive rate of interest
FDIC Insured
Alpena Variable ROTH IRA
Earns a competitive rate of interest
FDIC Insured
IRA Rollover Account
Utilize Bank of Alpena’s Traditional IRA Options for:
• Direct rollover of your 401(k) or Retirement Plan.
• Direct transfer of your existing IRA Account from another Financial Institution.
*2008 IRA & Roth Contribution Limits: $5,000 (or 100% of compensation if smaller)
*2008 Catch-up Contribution Limits (age 50 and older) - $1,000
*Deadline for 2007 Contributions: April 15, 2008 -- Deadline for 2008 Contributions: April 15, 2009
*Deductibility of your IRA may be affected by your tax filing status, Modified Adjusted Gross Income, and whether or not you or your spouse participate in a qualified employer plan. Please call 358-9900 if you have any questions.
Employer Sponsored Retirement Plans
SIMPLE IRA Plan
(Saving Incentive Match Plans for Employees) FDIC Insured
A SIMPLE IRA Plan is an employer sponsored retirement plan that is funded by employee salary deferrals and employer matching contributions.
*Does not require a Third Party Administrator or form 5500 filing
2008 SIMPLE Contribution Limit: $10,500 plus $2,500 catch-up salary deferral for those age 50 or older.
For more information, please contact:
