Individual Retirement Accounts (IRAs)
Make the most of your retirement dollars with an IRA from Ideal CU! Choose from our high rate IRA Premium Money Market Account or IRA CDs. Dividends are tax-deferred.
Traditional IRAs
Traditional IRAs allow earning to grow tax-deferred. Contributions may be tax deductible depending on your income and participation in an employer-sponsored retirement plan. Taxes are not paid until distributions (withdrawals) are made. Distributions are taxed as ordinary income. In addition, you may be allowed to take penalty-free withdrawals to buy your first home and pay higher education expenses.
Roth IRAs
Roth IRAs provide a non-deductible alternative to traditional retirement savings. Contributions are made with after-tax dollars, and earnings may be withdrawn tax- and penalty-free under a a variety of conditions after the account has been open five tax years which includes:
  • When you reach age 59 and 1/2
  • Become disabled
  • Make a first-time home purchase
  • Upon your death

Be sure to consult your tax advisor for more information about the tax benefits of IRAs.

Want more info? Click Here for some great retirement calculators.