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IRAs

The earlier you start saving for retirement, the better. Get started today with just $5 and a CEFCU IRA.

IRA Service Center Check Rates Contact CEFCU

 

There is a $5,500 maximum annual contribution limit, combined, between Roth and Traditional IRAs. If you’re over 50, ask your tax advisor about catch-up contributions.4

 

Contribution Limits

 

Contribution Deadline: You have until the tax-filing deadline (generally April 15) of the following year to make allowable contributions.

CEFCU IRAs are Federally Insured up to $250,000 by the National Credit Union Administration (NCUA). This is in addition to the federal insurance on your other CEFCU accounts.

  1. The deduction available to active participants in employer-sponsored retirement plans is phased out on a sliding scale for individual taxpayers with modified adjusted gross income between $63,000-$73,000, and for joint filers with modified adjusted gross income between $101,000-$121,000 for 2018. Ask your tax advisor for more information.
  2. The contribution is phased out on a sliding scale for individual taxpayers with modified adjusted gross income between $120,000-$135,000, and joint filers with modified adjusted gross income between $189,000-$199,000 for 2018.
  3. May be subject to a CEFCU withdrawal penalty based on the terms of the IRA.
  4. IRA holders who will be age 50 can make an additional catch-up contribution for the tax year in which they attain age 50 and any year thereafter. The maximum contribution a person age 50 or older may make for the 2018 tax year is $6,500.
  5. IRA contributions are an aggregate total of Traditional and Roth IRA contributions.