Relax ... make a plan.
Prepare for a comfortable retirement with an Individual Retirement Account.
Your IRA with Founders
The Coronavirus Aid, Relief and Economic Security (CARES) Act, states individuals, including beneficiaries, are not required to take required minimum distributions (RMDs) from Traditional or Inherited IRAs in 2020.
If you want to receive your scheduled RMD payment in 2020 or have not scheduled payments, no action is required. If you are receiving scheduled RMD payments and would like to waive your 2020 RMD, please speak with a Financial Services Representative for assistance.
- Accounts can be opened and funded with contributions based on your earned income and age.
- Contributions may be tax-deductible.3
- Earnings are tax-deferred until withdrawn.
- Funds are always available,3 unlike many employer plans.
- No minimum contribution required in any year.
- Contributions are not deductible, but earnings grow tax-free.
- Withdrawals may be penalty-free.
- Offered in addition to your 401(k) plan.
- Discuss your options with a tax advisor or a Founders Investment Services Financial Consultant.
Coverdell Education Savings Account
- Tax-free earnings.
- Ability to invest up to $2,000 per year per child.
- Withdraw money penalty-free for approved use on elementary, secondary and higher education expenses.
- Account can be transferred to another child who qualifies as an eligible beneficiary if intended child does not attend an institution of higher education.
- Contributions can be made by almost anyone.
Visit an office near you today to open an IRA or Coverdell Education Savings Account.
1 Allowed a one-time dividend rate upgrade request during the original term. At the time of request, the dividend rate will be increased to the dividend rate offered at that time for the same product and term and will be fixed until the original certificate maturity date.
2 To qualify, you must have a checking account opened at least six (6) months with a minimum of ten (10) member-initiated transactions within the past sixty (60) days and must already have one of the following FFCU products: a credit card, loan, certificate or IRA.
3 Seek tax advice.
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