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Home > Deposits > Retirement Account

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.
 

 Traditional IRARoth IRA
ContributionsOften 100% deductibleNot deductible
EarningTax-deferredTax-free
DistributionsTaxable, 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.

Savings AccountMoney MarketCD Account
Dividends compounded and paid monthlyDividends compounded and paid monthlyDividends compounded and paid monthly
Additional deposits at your convenienceAdditional deposits at your convenienceAdditional deposits at maturity only
No minimum balance$2,500 minimum balance$1,000 minimum balance
No maturity dateNo maturity dateTerms from 3 to 60 months

 

Contact the credit union to open your TDECU IRA today.
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