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.
Coverdell Educational Savings Accounts, Health Savings Accounts, Traditional IRAs, Roth IRAs, and SEP Plan IRAs are insured for an additional $250,000.
A Roth IRA gives you the ability to invest your after-tax dollars today and take qualifying withdrawals tax free after five years on deposit and if you are at least age 59½, disabled, or are a first-time home buyer. Contributions may be made at any age, as long as you have earned income.
|Tax Year||Contribution Limits1|
|2015||$5,500 ($6,500 for catch-up contributors age 50 and over)|
|2016||$5,500 ($6,500 for catch-up contributors age 50 and over)|
Open a Roth IRA
Open a Roth IRA at any MSUFCU branch, or visit our IRA Service Center by clicking the button below.
1Contributions to your Roth IRA may be limited by your filing status and income. Be sure to discuss your specific tax situation with your tax advisor.
Rolling over your IRA is perfect when changing jobs or for keeping your retirement savings on track. An MSUFCU IRA is a great way to ensure your funds are invested to your tax benefit, whether the funds are with a Traditional or Roth.
Direct Rollover is a qualified retirement plan or tax-sheltered annuity distribution that is sent directly from the plan administrator to an IRA. Funds moved to an IRA via a direct rollover are not subject to federal income tax withholding.
An IRA owner may withdraw funds from an IRA once in a 12-month period and pay no tax or IRS penalties provided the funds are rolled over to a similar plan within 60 days.
A Direct Transfer is a movement of IRA funds from an existing IRA (this includes an Accumulation, Rollover, Spousal, or SEP Plan) to a like plan. A Direct Transfer can only be made between IRA custodians or trustees. There are no limitations to the number of times that an IRA owner may initiate a Direct Transfer and there are no tax implications when transferring funds between financial institutions.
Move Your IRA to MSUFCU
Complete the IRA forms via our online IRA Service Center, visit an MSUFCU branch, or call 517-333-2424 or 800-678-4968 to learn more about moving your IRA to MSUFCU.