IRAs

Helping make your retirement a little more golden

We all have visions of retirement: what we want to see and where we want to be. We'll help you build toward that vision with an Individual Retirement Account (IRA) that focuses on long-term growth. Choose from two different IRA options, and discuss the possibilities with the 7 17 Retirement & Investment Group.  7 17 IRA options are federally insured by the NCUA. Learn more about account insurance.

Traditional IRAs

With Traditional IRAs, you defer paying taxes on your earnings until the year you start taking distributions. Certain contributions are also tax-deductible in the year they are made, but please consult your tax advisor for details.

• Must have earned income to be eligible
• Withdraw funds any time after age 59 ½ without incurring the 10 percent premature-distribution tax for specific reasons such as disability and qualified medical expenses, certain higher-education expenses and a first-time home purchase
• Ideal for rolling over or transferring your IRAs and 401(k)s from other institutions
• Total combined contribution cannot exceed the maximum contribution (plus the catch-up amount if you are age 50 or older)^*

Roth IRAs

With a Roth IRA, you can make non-deductible contributions that are taxed within the year they are earned rather than when they are withdrawn. Roth IRAs allow you to take these tax-free distributions once you've reached age 59 ½. You also can withdraw your contributions tax-free after a five-year holding period, if you have a permanent disability or qualified medical expenses, you're making a first-time home purchase, or you have certain higher-education expenses. Please consult your tax advisor for full details.

• Your modified adjusted gross income (MAGI) must be within certain limits
• Contributions are made with after-tax dollars, so they cannot be deducted on your tax returns
• Qualified contributions may be withdrawn without IRS penalty
• Competitive fixed rates
• Total combined contribution cannot exceed the maximum contribution (plus the catch-up amount if you are age 50 or older)^*

Visit the nearest 7 17 Credit Union branch to open your account today or contact us with any questions.

DISCLOSURES:
^*COLAs are potential cost-of-living adjustments each year.  For more information, visit the IRS website at www.irs.gov.