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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 0.39% 0.40%
1 Year Term 0.49% 0.50%
18 Month Term 0.98% 1.00%
2 Year Term 1.03% 1.05%
3 Year Term 1.08% 1.10%
4 Year Term 1.32% 1.35%
5 Year Term 2.00% 2.05%
7 Year Term 2.10% 2.15%
10 Year Term 2.24% 2.30%

Rates effective as of December 1, 2017,  and may change prior to account opening without notice. Fees may reduce earnings.

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?

Our experienced, helpful member service team is ready to support you!

1-800-621-2105

Live Chat

Chat Available Mon-Fri, 8 am-5 pm Eastern

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.