IRA
The IRA is a financial planning tool which gives members the security of establishing funds to be used to meet the needs of retirement living. Members can contribute up to $2,000.00 per person a year, and contributions for the previous year are accepted until April 15. IRAs are tax-deferred savings accounts which earn a competitive dividend rate. A portion of the funds may be withdrawn after the age of 59½ and 100% of the funds are available for withdraw at age 65. Penalties will be incurred for early withdraw.
Key Benefits Include:
- Members can contribute up to $2,000.00 per person a year.
- IRAs are tax-deferred savings accounts.
- Contributions for the previous year are accepted until April 15.