The early bird gets the worm – and the bigger retirement egg.
If you’re looking forward to the day you retire, then make sure you start planning for it early. We can help with a variety of Individual Retirement Accounts, available as a savings account or a Certificate of Deposit (CD). Achieva IRAs work hard, long after you have. We offer Traditional, Roth, and Coverdell IRAs.
Traditional IRA
- Contributions can be made any time you have earned income before age 70 ½
- You can contribute to a Traditional IRA for your spouse under certain conditions
- Penalty-free distributions can begin at age 59 ½
- Yearly Required Minimum Distributions (RMDs) do apply
once you reach age 70 ½
- Retirement Accounts at the same institution are insured
up to $250,000 by NCUA
- Please consult the IRS or a tax professional for your personal tax situation with retirement accounts
Get more details here.
Roth IRA
- Contributions can be made to your Roth IRA any time you have earned income, regardless of your age
- You can contribute to a Roth IRA for your spouse under certain conditions
- Contributions are not tax-deductible*
- "Qualified" distributions** from a Roth IRA are never taxable*
- No minimum distribution requirement at any age
- Retirement Accounts at the same institution are insured up to $250,000 by NCUA
* Please consult the IRS or a tax professional for your personal tax situation with retirement accounts.
** Non-qualified distributions may have a penalty on any earnings that are withdrawn. The principal is not taxable at any time.
Get more details here.
Coverdell Education Savings (ESA)
- Helps parents and students save for education expenses
- Not tax deductible, but amounts deposited in the account grow tax free until distributed
- Not taxed on distributions if less than qualified education expenses at an eligible institution and used to pay expenses related to the beneficiary’s education, including tuition, books and room/board
- Remaining funds must be disbursed or rolled over within 30 days after the beneficiary’s 30th birthday
- Retirement Accounts at the same institution are insured up to $250,000 by NCUA
Get more details here.
Start planning for a secure future. Click here for current IRA Rates.
