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Traditional and Roth IRAs

Plan for retirement the safe and secure way.

Open an IRA

Or call 1-800-621-2105

IRAs Dividend Rate  APY 
6 Month Term 0.84% 0.85%
1 Year Term 1.23% 1.25%
14 Month Term* // SPECIAL 2.53% 2.60%
18 Month Term 1.27% 1.30%
22 Month Term* // SPECIAL 2.68% 2.75%
2 Year Term 1.32% 1.35%
34 Month Term* // SPECIAL 2.77% 2.85%
3 Year Term 1.47% 1.50%
4 Year Term 1.95% 2.00%
5 Year Term 2.20% 2.25%
7 Year Term 1.47% 1.50%

IRA Annual Percentage Yield (APY) effective as of October 12, 2018,  and may change without notice. Fees may reduce earnings. *Limited Time Certificates Special — Limited time offer may be withdrawn at any time. Unless redeemed, upon maturity 14-month certificate will automatically renew into the traditional 12-month certificate at the then current APY; upon maturity 22-month certificate will automatically renew into the traditional 24-month certificate at the then current APY; upon maturity 34-month certificate will automatically renew into the traditional 36-month certificate at the then current APY.

Traditional and Roth IRAs

KEY BENEFITS

  • Save for retirement at any age
  • Choose between tax-deductible contributions or tax-exempt withdrawals

IRA DETAILS

  • Contribute up to $5,500 per tax year, or possibly $6,500 if you are over age 50
  • If your spouse is employed, he/she can open an IRA and contribute up to $5,500 of earned income for the year
  • Or, you can open a spousal IRA on his/her behalf with the total contribution of $11,000 for the year, as long as a contribution to either of the accounts is no more than $5,500. For 50 and older the contribution for both could total $13,000 for the year.

Questions?

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1-800-621-2105

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Traditional IRA vs. Roth IRA

 

Traditional IRA

  • Savings are taxed as income in retirement (tax-deferred earnings)
  • Contributions may be tax deductible
  • No income limits for contributions

 

Roth IRA

  • Contributions are not tax deductible, and there are limits on your contributions
  • Receive tax-free income in retirement, as the contributions were taxed when put into savings
  • Withdrawals are considered qualified as long as the account has been open for at least five year, and you are either over age 59 1/2, disabled, or buying your first home (other restrictions may apply)

Frequently Asked Questions

 

Q: Can I roll over my HSA into an IRA?
A: No. HSA funds can only be rolled over into another HSA account, not an IRA.

Q: Can I open a Rate Climber IRA or Roth Certificate?
A: Yes, we currently offer the Rate Climber certificate for IRAs or Roth Accounts.

Q: What happens to my Traditional IRA if I die?
A: Your beneficiaries will be notified, and funds will be distributed accordingly.

How to Get Started

 

Simply call 1-800-621-2105 to start your Traditional or Roth IRA application. An Elements representative will help you determine the best plan to fit your financial goals and will reach out within 2 business days to let you know if you’ve been approved.

How Much Can I Contribute to an IRA?

IRA Eligibility Calculator

Where can I find this on my tax return?

Do you participate in a retirement plan at work?

Results

Non-deductible Traditional IRA

  • You
  • Spouse

Deductible Traditional IRA

  • You
  • Spouse

Roth IRA

  • You
  • Spouse

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