Lyon County State Bank
An Individual Retirement Account allows you to save for retirement. Lyon County State Bank offers two types of IRAs—Traditional and Roth.
Traditional IRA Features
- Allows you to contribute before-tax dollars
- Contributions may be tax deductible
- Earnings grow tax-deferred until withdrawn
- IRS penalties may be assessed on withdrawals prior to age 59½
- Minimum distributions are required at age 70½
- Fixed and variable rate options available
Roth IRA Features
- Allows you to contribute after-tax dollars
- Contributions are not tax deductible
- Earnings grow tax-deferred
- Earnings may be withdrawn tax-free if the Roth IRA is at least 5 years old and you’re at least 59½
- No minimum required distributions
- Fixed and variable rate options available
Account Details
| Minimum Amount to Open |
|
| Minimum Balance to Earn Interest | $0 |
Penalties may be imposed for early withdrawal
