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OnPoint Community Credit Union
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OnPoint IRAs

Two great choices for retirement
 
Traditional IRA
  • Contributions are made with pre-tax dollars
  • Good choice if you expect to be in a lower tax bracket when withdrawals begin
Roth IRA
  • Contributions are made with post-tax dollars
  • Good choice if you anticipate being in a higher tax bracket when you retire
Open your account today!
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Questions about PERS?
 
IRA Details1 4/23/2014
Traditional IRA Roth IRA
Age Eligibility Under age 70 at year end None
Max. Regular Contributions
(2013 tax year)
$5,500;
$6,500 for those over 50 at as of 12/31/13
(Combined limit for Traditional and Roth contributions)
$5,500;
$6,500 for those over 50 at as of 12/31/13
(Combined limit for Traditional and Roth contributions)
Income Limitations
(2013 tax year) 3
None Contribution phase-out ranges:
  • Single and Head of Household
    • $112,000 - $127,000
  • Married, filing jointly
    • $178,000 - $188,000
Contribution Deadline Tax deadline for year to which contribution applies Tax deadline for year to which contribution applies
Distributions Must begin by April 1 of the year after participant reaches age 70 No mandatory disbursements
Tax Implications Tax deferred earnings. Contributions may be tax deductible.2 Tax deferred earnings. Regular contributions may be withdrawn tax and IRS penalty free. Withdrawals of earnings my be tax free.2
1Additional account details may apply.
2See your tax advisor for information.
3Please view IRS Publication 590 for more information about income limitations at www.irs.gov or see your tax advisor for more information.