One of the most effective ways to accumulate retirement savings is to open and contribute to an Individual Retirement Account (IRA). IRAs are simple to open and offer tax-deferred growth and other unique advantages to retirement planning. Century Bank of the Ozarks offers several IRA options:

Traditional IRA

  • Investment earnings grow tax deferred until you withdraw funds from the account
  • Your age, income, and tax filing status (joint or single) determine how much you can contribute annually
  • Contributions may be tax-deductible depending on your filing status, modified adjusted gross income, and participation in employer-sponsored plans
  • May be opened by anyone who is not 70 1/2 years old by the end of the current year with taxable earnings or a spouse (if you file a joint return) with earned income

Roth IRA

  • Contributions are made after-tax rather than pre-tax, but earnings are tax-free if you meet certain conditions
  • Your modified adjusted gross income and tax filing status determine if and how much you can contribute
  • 401(k) Rollover IRA
  • When you retire or change jobs, you can continue tax-deferred investing by transferring your retirement assets into this IRA
  • You are generally eligible if you maintain 401(k) plan assets with a former employer


  • Designed for the needs of small business owners, this IRA offers the benefit of tax- deferred earnings for the employee and tax- deductible contributions for the company.