Build Your Retirement
Ballston Spa National Bank offers access to IRA accounts, rollover services, and professionally managed retirement solutions for individuals in the Capital Region of New York. Whether you’re just starting to save or ready to put your retirement assets to work, our local Osaic Institution Advisors help you build a strategy that fits your vision for your future.
ira options
Local Support for Your Next Phase
BSNB is here to help at every critical milestone in life. Choosing an IRA with BSNB Wealth Management Solutions can provide you with additional investment options while allowing your savings to continue to grow tax-deferred. We offer access to:
- Traditional and Roth IRA options.
- A comprehensive review of tax consequences.
- Minimum distribution calculations and requirements.
- A relationship built on understanding and support.
- Personalized service tailored to your investment strategy.
IRA Rollovers
Your Retirement Savings
Leaving your job doesn’t mean leaving your retirement savings behind. You have options: stay on your old plan, move to your new employer’s plan, roll it into an IRA, or cash it out.* Fees, investment choices, and tax treatment vary, so it’s worth comparing before you decide.
*Taxes and penalties may apply.
We Are Here to Help.
Have a question about accounts, loans, digital banking, or the right next step?
Our team is ready to help you get where you need to go.
Meet Our Financial Team
Stephan Scribner, CFP®
Osaic Institutions Financial Advisor*
BSNB Financial Services
990 State Route 67
Ballston Spa, NY 12020
Michael Ciarlo
Osaic Institutions Financial Advisor*
BSNB Financial Services
990 State Route 67
Ballston Spa, NY 12020
Retirement Services and IRAs
Ballston Spa National Bank offers Traditional IRAs, Roth IRAs, and Managed IRAs. Traditional and Roth IRAs are FDIC-insured deposit accounts available with CD terms and competitive rates. Traditional and Roth IRAs are CDs and are FDIC insured deposit accounts.
Managed IRAs are professionally invested accounts offered through BSNB Wealth Management Solutions, designed for individuals who want active portfolio management as part of their retirement strategy. Managed IRAs are not FDIC-insured, are not deposits, and may lose value.
With a Traditional IRA, contributions may be tax-deductible, and withdrawals in retirement are taxed as ordinary income. With a Roth IRA, contributions are made with after-tax dollars, and qualified withdrawals in retirement are tax-free. Roth IRAs also have no required minimum distributions (RMDs) during the account owner’s lifetime. The best choice depends on your current tax rate and what you expect in retirement. A BSNB advisor can help you decide.
Put simply, a rollover is the transfer of your funds from a former employer’s retirement plan into a new IRA. There are many things to consider when determining if a rollover is the right option given your situation. Our advisors will help you identify the advantages and disadvantages for the options available to you in addition to providing guidance on IRA rollover rules and IRA rollover time limits.
Yes. BSNB can help you roll over assets from a former employer’s retirement plan, such as a 401(k) or 403(b), into a Traditional or Managed IRA. A direct rollover moves funds from the plan directly to your BSNB IRA. Our advisors guide you through the process from start to finish. Call 518-885-6781 or visit any of our 21 BSNB branches in the Greater Capital Region to get started.
Yes. BSNB IRA deposits, including IRA CDs and IRA savings accounts, are FDIC-insured up to $250,000 per depositor, per ownership category. Managed IRA investment assets are not FDIC-insured, are not bank-guaranteed, and may lose value. Ballston Spa National Bank is a member FDIC institution.
*Guarantees are made by the claims-paying ability of the carrier.
Investment and insurance products and services are offered through OSAIC INSTITUTIONS, INC. Member FINRA/SIPC. BSNB Financial Services is a trade name of Ballston Spa National Bank. OSAIC INSTITUTIONS, INC. and Ballston Spa National Bank are not affiliated. Products and services made available through OSAIC INSTITUTIONS, INC. are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, Certified Financial PlannerTM and CFP® in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
