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IRA

An IRA (Individual Retirement Account) is a self-directed investment account established by individuals to provide supplemental income at retirement. The Bank of Kentucky offers all types of IRA's including: Traditional, Roth, SEP, Simple and CESA.

Traditional IRA's offers immediate tax benefits. All earnings grow tax-deferred until withdrawn and contributions may be tax-deductible.

Roth IRA's are non-deductible accounts that feature tax-free withdrawals for certain distribution reasons after a five-year holding period.

SEP IRA'S (Simplified Employee Pension Plan) are retirement plans designed for self-employed individuals and small-business owners. When establishing a SEP-IRA plan for your business, you and any eligible employees establish separate SEP-IRA's; employer contributions are made into individual employee's SEP-IRA accounts.

SIMPLE IRA'S are also designed for small businesses looking to offer a tax-advantaged, company-sponsored retirement plan. The SIMPLE plan is a flexible, easy to administer retirement plan for businesses with 100 or fewer employees. SIMPLE plans are funded by employer contributions or by elective employee salary deferrals.

CESA (EDUCATION) IRA'S
The Coverdell Education Savings Account is a nondeductible account that features tax-fee withdrawals for your child's education expense. These accounts were formerly known as education individual retirement accounts

Self-directed IRA's
A self-directed IRA enables you to buy and sell individual stocks as opposed to investing into mutual funds. It allows you to make all the investment decisions.

To learn more about IRA's from The Bank of Kentucky call or visit any of our conveniently located banking centers and let our customer service representatives help select the best account for you.

Visit the IRS online at: http://www.irs.gov/retirement/article/0,,id=137320,00.html

             For your benefit, please consult your tax or legal professional for a complete overview on IRA's.

Attention Bank of Kentucky Customer:

As you know, on June 22, pending regulatory approval, The Bank of Kentucky will become a part of Branch Banking & Trust Company (BB&T). Before you enroll for online banking, please read the following important notice:

If you enroll in Online Banking with The Bank of Kentucky on or after May 14, you will need to re-enroll in Online Banking with BB&T after conversion.

On June 19, your online banking access with The Bank of Kentucky will be changed to a view only mode through July 20. To re-enroll with BB&T on or after June 22, please visit any one of our branch locations or go to www.bbt.com.

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