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IRA, you can make non-deductible contributions that are taxed within the year they are earned rather than when they are withdrawn.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• Qualified contributions may be withdrawn without IRS penalty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:
^*Your accounts at 7 17 are insured up to $250,000 through the National Credit Union Administration (NCUA). IRAs are separately insured by the NCUA for up to an additional $250,000.
^**COLAs are potential cost-of-living adjustments each year.  For more information, visit the IRS website at www.irs.gov.