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TDECU Individual Retirement Accounts (IRAs)

TDECU Individual Retirement Accounts (IRAs)

Give your retirement savings a lift with a tax-advantaged IRA

Need help with retirement planning?

Need help with retirement planning?

Our team is committed to help you reach your financial and retirement goals. Contact us today to learn more about our full range of products and services, including our IRA options.

Take charge of your retirement

An individual retirement account (IRA) is an investment tool that enables you to set aside some of your earnings towards retirement with tax-free growth, or on a tax-deferred basis. Opening an IRA is one of the best decisions you can make since the tax benefits allow your savings to grow, or compound, more quickly than in a taxable account.

TDECU offers both Traditional and Roth IRAs, which offer different tax advantages. To provide even more flexibility, we also offer a Savings IRA, IRA Certificates of Deposit, and investment IRAs through our investments team.

A TDECU IRA features these benefits:

Up
to

1.25%

APY 1 on IRA CDs

$0

Monthly Fee

Up
to

$250,000

Insured by the NCUA

 

Take advantage of potential tax breaks

Save money on a tax-deferred basis, or with tax-free growth


Save more for retirement

Supplement the savings in your employer-sponsored retirement plan


Expand your portfolio

Select the IRA type that best meets your needs and goals

Traditional IRA vs. Roth IRAs

Compare the difference in contributions, earnings and distributions between a Traditional IRA and a Roth IRA.

  Traditional IRA Roth IRA

Best Suited For

An individual who expects to be in the same or lower tax bracket when they start making withdrawals.

An individual who expects to be in a higher tax bracket when they start making withdrawals.

Contributions

  • Allows you to make pre-tax contributions
  • Contributions grow tax-deferred
  • Allows you to make after-tax contributions
  • Contributions grow tax-free

Tax-deductibility

Yes

No

Mandatory Distributions

After age 72 4

None

Withdrawals

Penalty-free but taxed as current income after age 59 ½

Penalty- and tax-free after 5 years and age 59 ½

Traditional IRA vs. Roth IRAs

Compare the difference in contributions, earnings and distributions between a Traditional IRA and a Roth IRA.

Traditional IRA

Best Suited For

An individual who expects to be in the same or lower tax bracket when they start making withdrawals.

Contributions
  • Allows you to make pre-tax contributions
  • Contributions grow tax-deferred
Tax-deductibility

Yes

Mandatory Distributions

After age 72 4

Withdrawals

Penalty-free but taxed as current income after age 59 ½

Roth IRA

Best Suited For

An individual who expects to be in a higher tax bracket when they start making withdrawals

Contributions
  • Allows you to make after-tax contributions
  • Contributions grow tax-free
Tax-deductibility

No

Mandatory Distributions

None

Withdrawals

Penalty- and tax-free after 5 years and age 59 ½

Which TDECU Savings IRA is right for you?

 

Savings IRA

A tax-free, or tax-deferred, way to save for retirement that can be funded with savings, money markets, or CD accounts.

$0.00

Minimum Opening Deposit

0.10%

Interest Rate

0.10%

APY 1

$0.00

Monthly Fee

Anytime

Additional Deposits

 

IRA CD

A certificate of deposit that offers a secure way to invest a portion of your tax-advantaged TDECU IRA funds. 2

$1,000

Minimum Opening Deposit

0.30% - 1.24% 3

Interest Rate

0.30% - 1.25% 3

APY 1

$0.00

Monthly Fee

At maturity only

Additional Deposits

 
 

Savings IRA

IRA CD

A tax-free, or tax-deferred, way to save for retirement that can be funded with savings, money markets, or CD accounts.

A certificate of deposit that offers a secure way to invest a portion of your tax-advantaged TDECU IRA funds. 2

$0.00

Minimum Opening Deposit

$1,000

Minimum Opening Deposit

0.10%

Interest Rate

0.30% - 1.24% 3

Interest Rate

0.10%

APY 1

0.30% - 1.25% 3

APY 1

$0.00

Monthly Fee

$0.00

Monthly Fee

Anytime

Additional Deposits

At maturity only

Additional Deposits

Need help choosing which investments to use to fund your IRA?

Learn about options and investing strategies from our team of professionals

1 APY = Annual Percentage Yield
2 An early withdrawal penalty will be imposed for CD withdrawals made before maturity. Minimum balance equal to or greater than opening deposit amount required.
3 Based on term
4 The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) became law on December 20, 2019. The Secure Act made major changes to the required minimum distribution (RMD) rules. If you reached the age of 70½ in 2019 the prior rule applies, and you must take your first RMD by April 1, 2020. If you reach age 70 ½ in 2020 or later you must take your first RMD by April 1 of the year after you reach 72.

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