For tax-exempt or tax-deferred retirement savings, an Individual Retirement Account (IRA) from TDECU is a smart choice. The two options, Traditional and Roth, each offer distinct advantages. Both allow your money to grow much faster than a regular savings account.
New legislation suspends the Required Minimum Distributions (RMD) rules for the 2009 tax year. RMD rules are scheduled to resume in 2010.
| Contributions | Often 100% deductible | Not deductible |
| Earning | Tax-deferred | Tax-free |
| Distributions | Taxable, but penalty-free under certain circumstances; required beginning at age 70 1/2
| Tax-free at any time five years after first contribution, and under certain circumstances |
To provide even greater flexibility, TDECU offers IRA savings, IRA Money Markets, and IRA CD accounts to meet your needs.
| Dividends compounded and paid monthly | Dividends compounded and paid monthly | Dividends compounded and paid monthly |
| Additional deposits at your convenience | Additional deposits at your convenience | Additional deposits at maturity only |
| No minimum balance | $2,500 minimum balance | $1,000 minimum balance |
| No maturity date | No maturity date | Terms from 3 to 60 months |
Contact the credit union to open your TDECU IRA today.
