IRAs

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

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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


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 $61,000-$71,000, and for joint filers with modified adjusted gross income between $98,000-$118,000. 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 $116,000-$131,000, and joint filers with modified adjusted gross income between $183,000-$193,000.
  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 2015 tax year is $6,500.