Individual Retirement Accounts (IRAs)

Give yourself the gift of a more comfortable future.
  • Take advantage of compound interest with an IRA account
  • Save for education costs as well as retirement
  • Annual deposits add up to substantial sums (Restrictions apply)
  • Take advantage of potential tax benefits

It may be time to take it easy. Or take it to another level.

Whether you're 25 or 55, someday it will be your turn to retire. Either way, it's a good idea to contribute early and often to an Individual Retirement Account. You'll set yourself up for a steady income, create opportunities for tax breaks, and generally feel confident you'll be able to afford exactly the type of future you dream about.   

Traditional IRA

May offer an annual tax deduction

  • Contribute up to $6,000 per year ($7,000 if you are over age 50)
  • Choose from a range of savings and investment accounts
  • Enjoy potential tax deductions each year that you contribute
  • Begin making regular withdrawals as early as age 59 ½

Roth IRA

Delay the tax benefit until you need it

  • Contribute up to $6,000 per year ($7,000 if you are over age 50)
  • Choose from a range of savings and investment accounts
  • Funds can also be used for education costs and purchasing homes
  • No annual tax deductions, but no taxes owed on withdrawals
  • Begin making regular withdrawals as early as age 59 ½

Coverdell Education Savings Account

Education may be priceless but it comes at a cost

  • Save up to $2,000 a year for education costs
  • Any friend or family member can contribute to the student's account
  • No annual tax deductions, but funds grow tax-free and withdrawals are tax-free
  • Students can use money any time before age 30
  • Use the funds for private elementary and secondary school tuition as well as higher education

STILL HAVE QUESTIONS?

As a general rule, you want to start the process where the IRA fund will end up. This ensures there is an IRA to deposit the funds you send. Speak to a representative at 800 487-5500 about opening an IRA account. 

TSP Rollover

Flexible retirement options

to plan for every unique lifestyle.