MSUFCU Routing Number: 272479663

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MSU Federal Credit Union | Personal | IRAs & HSAs

Individual Retirement Accounts (IRAs)


MSUFCU has the long-term savings options to help you save for retirement, higher-learning, or health care expenses. View current dividend rates.


Important Information: New Rules Impacting IRA Rollovers in Effect Beginning January 1, 2015


Coverdell Educational Savings Accounts, Health Savings Accounts, Traditional IRAs, Roth IRAs, and SEP Plan IRAs are insured for an additional $250,000.


Legislative changes to Michigan’s income tax withholding laws became effective on January 1, 2012. As an IRA holder, you may be affected by these laws. 


The Michigan Income Tax Act is requiring taxpayers, who are legal residents of Michigan and are born on or after January 1, 1946, to withhold 4.25% of all Traditional and Roth IRA withdrawals for the purpose of state income tax. As the custodian of your IRA, the MSUFCU is required by law to send these funds to the State of Michigan.


If you are eligible to have a withholding rate other than 4.25% withheld or you elect not to have state income tax withheld on your IRA disbursements, you will be required to complete form MI W-4P and return it to the Credit Union in advance of the withdrawals. For more detailed information, visit the Michigan Department of Treasury 2012 Pensions Withholding Guide. An updated version of the MI W-4P can be found here.


You may qualify for personal exemptions that would reduce the amount required to be withheld. In addition, you may elect not to have state income tax withheld from your distributions and may choose to make estimated tax payments. There may be penalties for not paying enough state income tax during the year, either through withholding or estimated tax payments. Please consult the advice of a professional tax consultant to determine your options.