Roth IRA Accounts

Do more for your future—starting today! Build a more secure future for you and your family by supplementing your private pension plans and social security benefits with a tax-sheltered Individual Retirement Account (IRA) from People First FCU.

You can start saving for retirement today with a Roth IRA Share Account or a Roth IRA Share Certificate. Set up an automatic transfer for any designated amount to a Roth IRA Share Account and watch your money grow. Or invest in a Roth IRA Share Certificate with a minimum of $500 for a term of 6 months to 5 years.

Roth IRAs offer...

  • Penalty free withdrawals after 5 years,
  • Tax-free earnings after age 59½,
  • Contributions allowed after age 70½ when employed,
  • No required distribution at age 70½ or in your lifetime,
  • Tax-free if used for first home purchase (up to $10,000) or education,
  • Tax-free if disabled or upon death.

Contribution Requirements...

  • For the tax year 2017 you may be eligible to make a maximum contribution if your modified adjusted gross income (MAGI) does not exceed $118,000 for single taxpayers or $186,000 for married taxpayers filing joint income tax returns. However, if your MAGI is within the phase out ranges of $118,000-$133,000 for single taxpayers, $186,000-$196,000 for married taxpayers filing joint returns, or $0-$10,000 for married taxpayers filing separate returns; you may make a partial prorated contribution.*
  • For the tax year 2018 you may be eligible to make a maximum contribution if your modified adjusted gross income (MAGI) does not exceed $120,000 for single taxpayers or $189,000 for married taxpayers filing joint income tax returns. However, if your MAGI is within the phase out ranges of $120,000-$135,000 for single taxpayers, $189,000-$199,000 for married taxpayers filing joint returns, or $0-$10,000 for married taxpayers filing separate returns; you may make a partial prorated contribution.*
  • You can make a catch-up contribution each year of $1,000 if you are age 50 or older.

Maximum Annual Contribution

Tax Year
Under age 50
Age 50 and Older
2017
$5,500
$6,500
2018
$5,500
$6,500

Open an IRA Today!

Opening an IRA is quick and easy. Simply visit any one of our branches and a Member Service Representative will be happy to meet with you.

*If your MAGI exceeds these limits, you are not eligible to make Roth IRA contributions. You might, however, consider a Traditional IRA, which generally does not have income restrictions and also holds certain tax advantages.

For more information please view our Consumer Account Agreement.

See our Consumer Fee Schedule for associated fees.

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NCUA logoYour savings are federally insured to at least $250,000 by the National Credit Union Administration and backed by the full faith and credit of the U.S. Government.
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