Roth Individual Retirement Account (IRA)
An Roth IRA is a tax-deferred retirement account that permits individuals to set aside money each year with earnings tax-deferred until withdrawals begin at age 59½ or later. Earlier withdrawal is subject to a 10% penalty. Only those who do not participate in a pension plan at work or who do participate, but meet certain income guidelines, may make deductible contributions to an Roth IRA. All others may make contributions to an Roth IRA on a non-deductible basis. Such contributions qualify as a deduction against income earned in that year and interest accumulates tax-deferred until the funds are withdrawn. A participant is able to roll over a distribution to another Roth IRA or withdraw funds using a special schedule of early payments made over the participant’s life expectancy. Certified Federal offers Traditional and Roth IRAs. Your IRA accounts are federally insured to at least $250,000.
To open an investment account, contact our Member Services Department at 626.444.1972, Ext. 231.