save for your retirement
Looking for an easy and secure way to save for retirement? Traditional and Roth IRAs are available.
- Can be opened with as little as $5.00
- Payroll deduction is available to all types of accounts and will build your nest egg quickly
- Members can open either an IRA savings account or an IRA Certificate of Deposit or both
- No annual administration fees
- Tiered interest accounts
- Funds on deposit in your Individual Retirement Account are separately insured up to $250,000.00 by NCUSIF (National Credit Union Share Insurance Fund)
- For information about Early Withdrawal Penalties on a Certificate Account, please review our Account Agreement and Conditions
Traditional IRAs
- A good choice if you wish to save on your taxes now and defer those taxes to when you retire
- Contributions may be tax-deductible
- Eligible for the State of Florida Deferred Retirement Option Program (DROP)
- Based on the SECURE Act, there is now no age limit for contributions, as long as the individual has earned income
- Can begin taking distributions without a penalty at age 59 ½
- Please check with your tax adviser for deductibility and deferment options
Roth IRAs
- Designed for those members who want flexibility in their distributions
- Tax free growth
- Contributions are always withdrawn tax-free and earnings are tax free after a 5 year aging requirement
- Income eligibility restrictions apply
