Business Retirement Accounts

Give your employees some peace of mind with a comprehensive retirement plan — and boost company morale. We have IRA options to suit your needs.

Key Features

  • Competitive Interest
  • No Setup or Maintenance Fees
  • Tax Advantages1
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  • Gain the respect of your employees
  • Help employees reach their retirement savings goals
  • Includes Traditional IRA and Roth IRA
  • 18-month fixed rate option
  • Penalty for early withdrawal is six months interest on the amount withdrawn, if the participant is under the age of 59½
  • Annual fee of $25 if customer does not have another checking/savings/loan/safe deposit box account with FNB
  • $500 minimum deposit to open

There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.

Traditional IRA 

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax2
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty3
  • Mandatory withdrawals at age 72

Roth IRA 

  • Income limits to be eligible to open Roth IRA1
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal2
  • Principal contributions can be withdrawn without penalty2
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty3
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

1Consult a tax advisor.

2Subject to some minimal conditions. Consult a tax advisor.

3Certain exceptions apply, such as healthcare, purchasing first home, etc.

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1Consult a tax advisor.