Individual Retirement Accounts

First Bankers Trust offers a Self Directed IRA Program. A Self Directed IRA Program allows the customer to choose the IRA investment that best suits their financial retirement plan. The customer may choose from not only a wide range of First Bankers Trust Certificate of Deposit product offerings, but can also choose stocks, bonds, mutual funds and other investment instruments through First Investment Services that the customer feels matches their retirement planning goals.

Traditional IRA

Would you like to make tax-free contributions to your retirement investment?  Our Traditional IRA may be just what you are looking for! 

• Eligibility requires an earned income.  Spouses with an earned income may also contribute to a Spousal IRA in the event that the spouse does not have an earned income.
• Contributions may be tax deductible for the tax year in which they were made.  The deduction may be limited for those covered by a retirement plan at work or if income exceeds certain levels. 
• Contribution earnings are tax-deferred until the earnings are withdrawn. 

Roth IRA

Are you looking for a retirement that has tax-savings, tax-free earnings, and retirement security?  Check out our Roth IRA!

• Eligibility requires an earned income.  Spouses with an earned income may also contribute to a Spousal IRA in the event that the spouse does not have an earned income.
• Qualified withdrawals are tax-free.
• Contribution earnings are tax-free.

Coverdell Education IRA (CESA)

Looking for ways to invest in your child or grandchild's education? The CESA IRA may be the answer.

• Any individual whose modified adjusted gross income is under the limit set for a given tax year may contribute.
• Organizations, such as corporations and trusts, may contribute regardless of adjusted gross income.
• Distributions are tax-free for qualified education expenses.

Simplified Retirement Plan IRA (SEP)

Are you an employer looking for retirement options for your employees?  The SEP IRA may be what you need.

• Employers contribute to traditional IRAs (SEP IRAs) set up for themselves and their employees.
• Only the employer contributes; the employee is always 100% vested.
• Sole proprietors and partnerships can have SEP IRAs, even if there are no additional employees.

Rollover IRA

Are you looking for reinvestment options from your previous employer’s retirement plan?  A Roller IRA option may work for you!

• Pre-retirement distributions paid directly to you from a retirement plan or IRA can be rolled over to another retirement plan or IRA within 60 calendar days.
• Tax is not paid on a retirement plan distribution that is rolled over until funds are withdrawn from the new plan.
• Only one rollover is permitted in any 12-month period.

Direct Rollover IRA

Interested in reinvesting your current employer-sponsored retirement plan?

• An employee or former employee directs the plan administrator of the current IRA to make payment directly to another retirement plan or IRA.
• The distribution is completed in the form of a check made payable to the new IRA account.
• No tax is withheld from the transferred amount.