Planning for Retirement | Start Saving with an IRA
Individual retirement accounts (IRAs) may provide a tax-advantaged way for you to save for retirement, check out the IRA options available through First Minnetonka City Bank.
Traditional and Roth IRAs
* Eligibility rules apply.
Simplified Employee Pension (SEP)
SEPs are often established by companies to provide retirement plans for their employees. Every year, the company can contribute a certain percentage of each employee’s eligible pay into his or her individual Traditional IRA. Any company, whether a corporation, partnership or a self-employed individual, may establish a SEP even if there are no other employees.
Every dollar deposited under an eligible SEP plan within the limits listed in the table below qualifies as a tax deduction.
For detailed information about SEP and employee eligibility, refer to IRS publication 560, Retirement Plans for Small Businesses, found on the IRS web site.
As a business owner, you should consult with your tax or legal professional to review IRS eligibility requirements for this plan for your business.
The earlier you start saving for retirement, the more time your money has the potential to grow. It pays to start savings now and to contribute regularly.
Check our great rates for current rates and additional terms and conditions. Interest rates are subject to change.
Learn More | Contact Our Personal Banking Specialists
Glen Lake: (952) 935-8663
14550 Excelsior Blvd.
Minnetonka, MN 55345
Hours & Directions
Country Village: (952) 935-5995
11500 Highway 7
Minnetonka, MN 55305
Hours & Directions
To report unauthorized activity or a lost or stolen Visa Debit Card, call (952) 935-5995 or (952) 935-8663 during our business hours. After hours, call (800) 472-3272.
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The Fair Housing Act prohibits discrimination in housing because of:
- Race or color
- National origin
- Familial status (including children under the age of 18 living with parents or legal custodians; pregnant women and people securing custody of children under 18)
- Handicap (Disability)
Enforce the Fair Housing Act and other civil rights laws to ensure the right of equal housing opportunity and free and fair housing choice without discrimination based on race, color, religion, sex, national origin, disability or family composition.
1. Reduce discrimination in housing by doubling the Title VIII case load by the end of 2000 through aggressive enforcement of civil rights and fair housing laws;
2. Promote geographic mobility for low-income and minority households;
3. Integrate fair housing plans into HUD's Consolidated Plans;
4. Further fair housing in other relevant programs of the Federal government; and
5. Promote substantial equivalency among state, local and community organizations involved in providing housing.