Pension & Profit Sharing Plans Self Directed and ROTH IRA Discount Brokerage Pension & Profit Sharing Plans Southwest National Bank serves as trustee and investment agent for profit sharing plans and 401(k) plans. Retirement plans can be either prototype approved plans, or plans specifically tailored for your company. All retirement plans should be reviewed by your accountant and legal advisor. Self Directed and ROTH IRA An individual retirement account (IRA) is an excellent tax shelter for individuals who want to save for retirement. You may make contributions to the IRA, which then are held and invested until distribution is made. Income earned on your investments in the IRA is tax-deferred until withdrawn at retirement. Any person who earns compensation may open an IRA, even if you are covered by an employer-sponsored plan. The deductibility of your contributions will be determined by a complicated set of rules. Anyone who receives an "eligible rollover distribution" from an employer-sponsored retirement plan can elect to roll the distribution into an IRA. A Roth IRA is a nondeductible account that features tax-free and IRS penalty free withdrawals for qualified distributions after a five-year holding period. would be glad to handle the investment of your Traditional or Roth IRA funds. We have a wide range of investment alternatives that will allow you to choose different growth and risk characteristics, different terms, and different rates of interest. Discount Brokerage offers discount brokerage for customers who want to buy or sell stocks, bonds or mutual funds based on their own investment decisions. We offer the advantage of low commissions. We utilize Primevest Financial Services, Inc. a company based in St. Cloud, MN. They are a registered broker-dealer used by many financial institutions to place trades for their retail customers. Simply contact your bank representative at and ask for an application to be mailed to you, or if you like, call for an appointment to come in and complete the application. There is no charge to establish the account. You must be 18 years or older and have a Southwest National Bank or Twin Lakes National Bank deposit account. Products offered through Discount Brokerage such as mutual funds, stocks, bonds, etc. are not FDIC insured, are not obligations of the bank and are not guaranteed by the bank. These products involve investment risks, including possible loss of principal.