Roth CD IRAs

A Roth CD IRA from Central National Bank is an interest-bearing retirement account for individuals who wish to build a fund to supplement retirement income.  Roth IRAs are funded with money that has already been taxed so individuals can take advantage of earnings that are tax free upon a qualified withdrawal.  Unlike Traditional IRAs, contributions to Roth IRAs are never deductible and distributions are not required to be taken by age 70 ½. Maximum contributions vary each year. Ask a retail banker for the current contribution limits.

• Roth IRA principal distributions can be taken tax free and without penalty at anytime.
• Earnings can be distributed tax-free if the Roth IRA holder first made a Roth IRA contribution at least five years ago AND one of the following events occurs:
• Attain the age of 59½
• Become disabled
• Purchase a first home
• Death (payments to beneficiaries)