Roth Individual Retirement Accounts

With a Roth IRA from Credit Union ONE, you make after-tax contributions and your earnings accumulate tax-free. All qualified distributions are entirely tax-free, and there's no age limit: you can contribute as long as you have earned income and meet Adjusted Gross Income (AGI) requirements. Choose a fixed-rate, fixed-term Certificate IRA or an IRA Savings account, or ask us about other investment options for your IRA. Talk to us. We're here to make retirement saving simple.

Contribution Limits

• $5,000 for the year 2008 or 100 percent of taxable compensation, whichever is less.
• No more than $5,000 total can be contributed to Traditional and Roth IRAs in 2008.
• For members 50 years or older, a $1,000 "catch-up contribution" is allowed for the year 2008.
• Eligibility and deduction limits may apply, based on your Adjusted Gross Income (AGI). Contact your tax advisor for details.

Withdrawal Guidelines*

• No minimum distributions are required at age 70½. You can leave the account intact for heirs. It will continue to grow tax-free.
• IRS penalty-free withdrawal for amounts withdrawn after 5 years if one of the following occurs:
  • Reach the age of 59½
  • Buying a first home ($10,000 lifetime cap)
  • Disability
  • Death