Lewiston State Bank's individual retirement arrangements (IRAs) are held in CDs, not in the stock market, so you're guaranteed a steady return and are covered by FDIC insurance. Unlike some banks, we don't charge you holding fees or an annual fee.

Depending on the type of IRA you choose, income can be earned tax free or tax deferred. After retirement, you can receive distributions from the money in your IRA account.

Here are the types of IRAs we offer:

• Traditional IRA: Allows contributions of pre-tax income. Taxes are paid upon distribution.
• Roth IRA: Allows contributions of after-tax income, if qualified. Qualified distributions of principal and interest are tax-free. After retirement, distributions are not required.
• SEP IRA: SEP stands for Simplified Employee Pension. It allows a business to make contributions toward its employees' retirement using IRAs. These are especially popular with sole proprietors, where the business owner and the employee are the same person. SEPs allow a higher maximum contribution (25% of compensation up to $50,000) than a Traditional or ROTH IRA.

Lewiston State Bank's variable-rate IRAs require only $10 to open, while the Bank's fixed-rate IRAs can be opened with a $500-$5,000 minimum opening deposit. Don't wait any longer to start your retirement savings. Open an IRA today.