Your retirement-here-I-come account.
Social Security? Your job?
Sadly, nothing is for certain, but an Individual Retirement Account gives you control of your financial future by getting rich slowly.
Unlike some investments, every dollar you put into your IRA is federally insured. Plus, income taxes often can be deferred or reduced. (Consult your tax adviser.)*
Three great IRA options!
STCU offers two IRA options for individuals, and one for self-employed or business owners:
1. Traditional IRA (effective Jan. 1, 2019).
With a Traditional IRA at STCU, contributions to your account may be tax deductible, with earnings growing tax-deferred until you need them.* Contribute up to $6,000 in annual earned income to your Traditional IRA; up to $7,000 if you're 50 or older. Withdraw your IRA funds without penalty for qualified expenses such as buying your first home or paying for college or medical bills.
2. Roth IRA (effective Jan. 1, 2019).
Earnings on the money you save in your Roth IRA at STCU grows tax-deferred, which means you may be able to avoid taxes on your gains.* Contribute up to $6,000 in annual earned income to your Roth IRA; up to $7,000 if you're 50 or older. Withdraw contributions anytime without penalty. Or use your funds, as needed, for qualified expenses such as buying your first home or paying for college or medical bills.
3. Simplified Employee Pension (SEP).
If you are self-employed or a business owner seeking to provide retirement plans for your employees, consider a Simplified Employee Pension IRA at STCU. Click "Contact us" below; we'll be glad to help!
With your IRA, you choose how your money is invested at STCU:
- Certificates: Open an IRA certificate, with as little as $500, and choose your term. When your balance reaches certain tiers, your rate automatically goes up.
- Savings: Earn competitive dividends on your savings, with no minimum to open and higher rates when your account balance exceeds $6,000.
Need to rollover your IRA?
Changing jobs, retiring, or consolidating your finances can trigger a need to rollover retirement funds without IRS penalty. We'll help answer your questions and assist you in properly rolling over your retirement funds to a federally insured IRA.
*APY = annual percentage yield. Rate applies to a 48- to 60-month IRA certificate, with $25,000 minimum opening deposit. STCU membership required to open account. Fees may reduce earnings. Penalty for early withdrawal. Rate subject to change. Consult your tax adviser. All certificate rates, terms, and disclosures