Individual Retirement Accounts (IRAs) & Education Savings Accounts (ESAs)

Traditional IRA

Building your retirement savings with a Traditional IRA means you may not pay any taxes until you take distributions. Your contributions are also tax-deductible up to certain income limitations.

You may begin to take penalty-free distributions at the age of 59½.

 

Penalty-free Roth Distribution Requirements:

• The member is age 59 ½ or older
• The distribution will be considered as “penalty-free” once the five-year waiting period has been met.

 

 

Already have an IRA?

If you need to make a change or transfer an IRA, click on the appropriate form below.

 

•   Start a new Traditional IRA : 
  If you have recently retired or need to move a 401k account, use this form.

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•   IRA Withdrawal : 
  Use this form to withdraw funds from your IRA

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•   IRA Contribution : 
  Use this form to add funds to your IRA

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•   IRA Direct Transfer Instructions : 
  Use this form to move IRA funds to SSFCU

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•   Convert to a Roth IRA : 
  Use this form to move your Traditional IRA to a Roth IRA.

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 Traditional IRA RMD Payment : 
Use this form to setup reoccuring distributions

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Retirement 101

Wherever you are in your retirement planning, it is not too late to develop or refine your savings strategy. This quick online lesson will give you the understanding and tools you need to start building the retirement you want, today.