The Traditional IRA is a great way to save for retirement. It might also reduce your taxes.

Benefits:

• Taxes are deferred until you withdraw the money. That means your money stays in your account and continues to compound interest. Your money makes money.
• Some or all of your contributions could be deductible from your income taxes.

Eligibility:

• If you and/or your spouse has earned income, and you're under 70 1/2, you are eligible.

Contributions:

• Contribution limits for individuals will be increasing through 2008. A "catch up" contribution limit is available if you're over 50. See IRA chart for exact contribution limits.
• No contributions allowed after age 70 1/2

Withdrawals:

• The IRS won't penalize you if you wait to withdraw funds until you're 59 1/2. If withdrawn before that age, you'll pay a 10% penalty on the amount of the withdrawal. You must begin withdrawing funds by the age of 70 1/2. The IRS will penalize you 50 percent of the required withdrawal.

Contact Park State Bank today for more information

Discover the benefits of new and improved IRAs for yourself.
We've given you just a taste of how our IRA products can help you save for your future. There are countless reasons to turn to an IRA for your investment needs. And, there are countless reasons to turn to us when making those investments.

Grow your IRA investment with someone you trust.
If you think brokerage firms and mutual fund companies are the only place to put your investments, you're overlooking a trusted alternative. When you invest with us, you're putting your money with people you trust in an environment where you know your money is sound and secure.

Contact Park State Bank today for more information