IRA's, Retirement & You

When is the right time to start planning for your retirement?  The answer is NOW, and your credit union can help.  IRA and Roth IRA* rates yield .95% annually, and there is also a 1.51% APY(annual percentage yield) on 36-month IRA Certificates**.
Your credit union has several options that will help your retirement savings, which include individual retirement accounts (IRA's).  An IRA is a tax-sheltered savings plan that allows you to control your retirement planning.  The earnings are tax-deferred until you begin withdrawing from your account.  There are different types of IRA's, which include the Traditional, Roth and Education IRA's.  These three types allow you to pick the retirement account that will best meet your needs and lifestyle requirements.
Tax law changes that make IRAs more practical than ever before...
The Economic Growth and Tax Relief Reconciliation Act of 2001 presents a number of new opportunities to save more in your Traditional and Roth IRA retirement plans - for 2002 and beyond!

  • Annual Contribution Limits

Annual limits on contributions to a Traditional or Roth IRA  as of 2015 are as follows..

  • Ages below 50, maximum contribution is $5500
  • Ages 50 and above maximum contribution is $6500

If you meet the eligibility requirements and file a joint federal income tax return, you can contribute the above amounts not only to your own IRA, but also to a separate IRA for a spouse without earned compensation.

The time is NOW to begin saving for your retirement - don't let another day go by without starting an IRA!  Even a modest monthly amount added to your initial deposit can add up to a comfortable retirement.  Talk to your credit union professional today to discover which IRA is best for YOU!


*You may be subject to a 10% early distribution penalty tax on any taxable amount taken out from either IRA before you are 59 1/2 years old, unless you qualify for the following: Disablility, certain health costs, certain medical expenses, higher education expenses, first-time homebuyer expenses, substantially equal periodic payments, IRS tax levy, military reservist distribution, or death (beneficiary).

**An early withdrawl penalty may be imposed on an IRA Certificate for withdrawls before maturity of up to 180 days loss of dividends.

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Tradesmen Community
Credit Union
PO Box 1496
Des Moines, Iowa  50305-1496
Phone: (515) 243-8735
Toll-free: (800) 828 - 8050
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