Lake County Community Bank offers various retirement plans for all ages.

Traditional IRA’s
IRAs are one of the most viable ways to assure a secure retirement. Individual may open an IRA with out the employer participation intervention. Immediate tax benefits with contributions and/or earnings tax-deferred until retirement. Flexibility with no minimum contribution in any year, and you choose your financial organization.

Roth IRA’s
The Money you contribute to a Roth IRA has been taxed. So the principal amount is never subject to taxes or penalties in the future, as long as you stay within the contribution guidelines. This retirement plan allows the money you contribute to grow tax-deferred. If you do not withdraw any of the earnings until you have had the plan for at least five years, those tax-deferred earnings become tax-free!!!!!

Educational IRA’s
An education is an investment tool created for the purpose of paying for the future cost of a child post-secondary education. The plan allows total after-tax contributions for each child until they reach the age of 18. These contributions and their subsequent earnings are tax-free when withdrawn to pay for qualified education expenses.