Personal Retirement Plans
Today is the best time to plan for a comfortable retirement. Why worry about paying the bills when you can travel, pursue hobbies, and relax. Fairfax State Savings Bank can help you with the right Individual Retirement Account (IRA) to meet your needs. If you have earned income, we have an IRA for you!
IRA funds are invested internally in an FDIC insured variable-rate savings account. You are not bound by certificate of deposit terms, only by Internal Revenue Service regulations. We offer a competitive rate of interest that is paid quarterly. This rate is reviewed every April 1st and October 1st. You will receive a quarterly statement, which includes a newsletter informing you of important IRA updates. We also provide you with all pertinent income tax reporting documents - with no administrative fees.
We are pleased to offer:
- Traditional Individual Retirement Accounts
- Roth Individual Retirement Accounts
- Simple Retirement Accounts
- Simplified Employer Plans
- Qualified Retirement Plan
- Coverdell Education Savings Plans
Our staff is knowledgeable and qualified to find the right plan for you. Please contact us for more information.
Business Retirement Plans
Providing a retirement plan can be very beneficial for you and your employees. The right plan can act as a tax-planning vehicle for current income and help you attract and keep quality employees. Many retirement plans are available today for small and medium sized companies and self-employed persons. Reviewing your organization’s unique characteristics will help determine your specific needs and the retirement plan that will be right for you. Fairfax State Savings Bank offers businesses Simplified Employee Plans (SEP), SIMPLE Plans and Qualified Profit-Sharing Plans. Your tax advisor can steer you in the right direction for your corporate needs.
