IRA Information
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UNDERSTANDING THE NEW IRA RULES
Effective January 1, 1998, you have new choices for your
retirement and education savings.
The Taxpayer Relief Act of 1997 made traditional IRAs more
attractive by enabling more people to deduct contributions and allowing certain new
penalty-fee withdrawals. Two new types of IRAs were created: the Roth IRA, with its
opportunity for tax-free earnings, and the Education IRA to help families save for
post-high school educational expenses.
There is plenty of new
opportunity for consumers – and plenty of confusion about
the new options. The information we've put together on this
site will help you understand the new rules.
When you’ve determined which IRA
or combination of IRAs best meets your savings needs, stop
by your credit union. We can help you open accounts, make
contributions, transfer funds and answer your questions.
There has never been a better time to make an IRA part of
your financial plan. |
