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Retirement Planning Services

Retirement Planning Services

Financial management for today and tomorrow

When the time comes to retire, make sure you are in a financially sound place. Stride Bank’s Wealth Management Division can help you prepare for retirement with a variety of individual retirement accounts (IRAs) and 401(k) plans.

Our customers can choose to take advantage of our Managed IRA option, where we direct the investment based upon your individual goals and needs, or our Self-Directed IRA option for those who desire to make their own investment decisions.

Individual Retirement Account (IRA)

Traditional IRAs

A Traditional IRA have special tax advantages that can help you plan for retirement. Because of its flexibility, you may be able to deduct all or part of Traditional IRA contributions. Another benefit of the Traditional IRA is that earnings are not taxed until funds are distributed. Ask our investment officers if a Traditional IRA is right for you.

Features of a Traditional IRA:

Roth IRAs

Roth IRAs differ from a traditional IRA in that you receive no tax deduction for contributions to a Roth IRA. The Roth IRA has the advantage of tax-free withdrawals after five years from the initial contribution and after reaching the age of 59½. The Roth IRA is ideal for those who have a long time before retirement to allow the investments to grow. However, Roth IRAs are restricted to those who do not have high incomes.

Features of Roth IRAs:


A SIMPLE plan is a retirement plan for employers with fewer than 100 employees that opens SIMPLE IRAs for each eligible employee. Under a SIMPLE IRA plan, a SIMPLE IRA must be set up for each eligible employee.

Contributions are made up of salary reduction contributions and employer contributions. The employer must make either matching contributions or non-elective contributions based on a percentage of salary. The maximum dollar amount for contributions is set annually by the IRS.
Once the money is contributed, the employee may invest it just like a Traditional IRA in stocks, bonds, mutual funds, etc. The rules are the same as the Traditional IRA for withdrawals; however, the withdrawal penalty is increased to 25% if funds are withdrawn within two years of beginning participation in the plan.


A Simplified Employee Pension IRA (SEP IRA) allows you to make contributions toward your own retirement and your employees’ retirement without getting involved in a more complex qualified plan.
The SEP rules permit an employer to contribute a limited amount of money each year to each employee’s SEP IRA, or if you are self-employed, you can contribute to your own SEP IRA. The contribution limits are set each year by the IRS based on the lesser of a percentage of earnings or a dollar amount. 

Unlike contributions to a Traditional IRA, contributions under a SEP IRA can be made to participants over the age of 70½.  If you are self-employed, you can also make contributions for yourself to the SEP even if you are over 70½.   Participants over the age of 70½, however, must take required minimum distributions.

Within the limits set annually, you can deduct the contributions you make each year to each employee’s SEP IRA, or, if you are self-employed, the contributions you make each year to your own SEP IRA.

Once the money is contributed, the employee may invest it just like a Traditional IRA in stocks, bonds, mutual funds, etc. The withdrawal rules are the same for Traditional IRAs and SEP IRAs, and, with some exceptions, withdrawals before the age of 59½ are penalized.

Employer Retirement Plans

Tax qualified retirement plans, such as 401(k), Pension, and Profit Sharing Plans provide a time-tested, attractive, and cost-effective means of providing both retirement benefits and current incentives to employees.  Stride Bank’s Wealth Management Division offers extensive and valuable experience in both administration and portfolio management for qualified retirement plans.

For more information about our Retirement Planning Services, please contact one of our Account Administrators

Retirement Calculator

*Investment products and annuities are not a deposit, not FDIC insured nor insured by any other government agency. They are not guaranteed by the bank and may go down in value. 

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