Roth IRA

A Roth IRA is a great investment vehicle for retirement. The main benefit of the Roth IRA is that your earnings can be withdrawn tax-free and penalty free for specific distribution reasons, as long as you have met the 5 year holding period, which begins with the tax year for which your first contribution is made. However, unlike the Traditional IRA, the money you contribute to a Roth IRA is not tax deductible in the year funds are deposited.

JSC FCU Roth IRAs offer these benefits:

  • Available in a variable savings account with a minimum deposit of $25
  • A minimum opening deposit of $500 for an IRA Share Certificate
  • Dividends are paid monthly
  • Ability to made contributions conveniently with payroll deductions
  • Funds you contribute and earn are not tax deductible
  • Distribution of funds is not mandatory and funds can still be contributed well past 70½
  • Safe and secure investment vehicle
  • Funds you contribute and earn can be withdrawn tax-free and penalty free, once the 5 year holding period is reached, and if one of the following qualified distributions apply:
    • You are at least age 59½
    • You become disabled
    • Funds are used for qualified medical expenses
    • Funds are used towards a first-time home purchase up to $10,000
    • Your death results in a distribution made to the account beneficiary (or your estate)
  • IRA rates
  • Open a Roth IRA
  • Manage my Roth IRA

For more information on JSC Federal Credit Union, or to find out how you can join, please call 281.488.7070 or 800.940.0708, or visit any branch office or e-mail.

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