As employer pensions and even 401(k) accounts become less common, it’s good to know that you can take your retirement savings into your own hands. MFed will guide you every step of the way, with several great IRA options to choose from.
Whether it’s a Traditional IRA or a Roth, you’ll still qualify for tax-advantaged savings* and earn competitive dividends above standard savings rates. MFed makes it easy to get started — it only takes $100 to put you on track to future prosperity. Get started today!
There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.
Higher education can become a financial burden. A Coverdell Education Savings Account (ESA) is designed to help lighten the load.
Allows employees who receive a lump-sum distribution upon leaving an employer, or upon termination of an employer’s qualified retirement plan, to roll over all or any portion of the funds into a Miramar Federal CU IRA.
Allows funds from an existing IRA account at another financial institution to be transferred into a Miramar Federal CU IRA.
Allows the non-working spouse to contribute to an IRA.
Allows conversion from a Traditional IRA to a Roth IRA.
If you’re changing employers, an IRA rollover makes sense. If you are retiring or changing jobs and anticipate withdrawing money from your employer’s retirement plan, you can avoid withdrawal penalties by transferring your assets into an IRA or another qualified plan.
You can ask your employer to arrange for a “direct rollover” of your money into a new IRA account with us, or you can do it yourself with an IRA-to-IRA rollover. You must complete the rollover within 60 days from the date you receive the assets from your old IRA in order to qualify and not pay the mandatory 20% withholding and possibly other penalties as well.
For more information about IRA rollovers or opening a new IRA just give us a call at (800) 640-1228 or go to our IRA Retirement Central online.
*Consult a tax advisor.