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Individual Retirement Accounts (IRAs)
The VSECU offers a variety of Individual Retirement Accounts (IRAs) designed to help you plan for your future. Whether you are...
- just beginning to consider saving for retirement
- or a seasoned investor looking for a stable investment opportunity
...the VSECU is sure to have an IRA that will help you!
Use a VSECU IRA to accumulate a sizable nest egg before you retire.
We can help you open a new IRA or rollover an existing IRA. Because of the variety of advantages each type of IRA provides, we suggest calling one of our Member Service Consultants to learn which type of IRA best serves your needs. We also suggest that you seek tax counsel to learn more about the tax consequences and deductibility before opening an IRA Account.
Types of VSECU IRAs:
Traditional IRA
The Traditional IRA Account is a savings plan where contributions may be tax-deductible and interest earnings are tax-deferred.
Annual contribution limits are:
- $5,000 for 2008
- For owners age 50 and older, your limits increase to $6,000 for 2008
Apply for a Traditional IRA today
Roth IRA
The Roth IRA allows you to make non-tax deductible contributions to a retirement plan. One of the key features of this IRA is that qualified withdrawals may be tax-free. Also, unlike traditional IRAs, members who are over the age 70 ½ and earning wages can continue to make contributions.
Annual contribution limits are:
- $5,000 for 2008
- For owners age 50 and older, your limits increase to $6,000 for 2008
Education IRA
The Education IRA provides you the opportunity to open a custodial account to be used for the purpose of paying for qualified higher education expenses for yourself or another individual. You can contribute a maximum of $2000/year to an account opened for an individual under the age of 18.
Apply for an Education IRA today
