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IRA

Your future retirement called. It wants you to start saving today.

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How you save for retirement can make the difference between crackers and caviar. We’ll guide you through the finer points of contribution limits, tax deductions, and required minimum distributions, so you can choose a retirement vehicle suited to your tastes.

Traditional IRA

When you rollover your workplace 401(k) or other qualified retirement plan into a Traditional IRA, you get a variety of tax advantages. Your earnings grow tax-deferred and your contributions may be tax-deferred, too.

  • Deposit funds into an IRA Certificate or Variable Rate IRA. 
  • For contribution limits, visit our IRA Service Center. 
  • Distributions:
    • After age 59½, you can withdraw your Traditional IRA funds.
    • Distributions may be subject to income tax.
    • You must take distributions by April of the year following the year in with you reach 70½.
    • Early withdrawal may be subject to a 10% penalty. Exceptions include disability, death, and payment to beneficiaries, first-time home buyer expenses up to $10,000, and qualified higher-education expenses.

Roth IRA

If you want more flexibility but don’t want to lose tax advantages, a Roth IRA might be a good choice. You can make after-tax contributions and you may be able to withdraw your earnings tax-free at retirement*. Plus, you have the freedom to withdraw most contributions at anytime.

  • Deposit funds into an IRA Certificate or Variable Rate IRA.
  • For additional details, step-by-step instructions for opening an account, and contribution limits, visit our IRA Service Center.
  • Distributions:
    • Generally, contributions may be withdrawn at anytime without penalty (excluding conversions).
    • Qualified distributions are not subject to tax and are penalty-free if both of the following conditions are met:
    • You have had a Roth IRA for at least 5 years, and
    • You are at least 59½, the funds are used for a qualified first-time home purchase, or you have a qualifying disability.
    • Funds can be withdrawn by your beneficiaries upon your death.

Simplified Employee Pension (SEP) IRA

A SEP IRA is a great option if you are self-employed or own a small business. Your earnings grow tax-deferred and your contributions may be tax-deferred*, too. For individuals who are self-employed or own a small business: (the following two bullets seem to be missing something. They aren’t connected correctly to this lead-in sentence)

  • Funded by employer contributions only
  • Deposit funds into an IRA Certificate or Variable Rate IRA

IRA Certificate

Deposit funds from your Traditional, Roth, or SEP IRA into a certificate and earn a great rate.


Variable Rate IRA

Deposit funds from your Traditional, Roth, or SEP IRA and earn a great variable rate.

To open any of our IRAs, visit our IRA Service Center 

You can also open a SEP IRA by completing IRS Form 5305 and returning it to your local branch.
If you are depositing funds into an IRA Certificate, please complete the Certificate Application.
If you have any questions, call us at 800.877.2345.

*Consult your tax advisor regarding tax consequences and your specific situation.

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