Don't count on Uncle Sam to support you in your golden years. Take retirement into your own hands and open an IRA.

Roth and Traditional IRAs offer a tax-advantaged way to save for the future — earn interest above standard savings. Talk to a Sunnyside Federal representative about opening the account that's right for you.

SUMMARY

  • Tax-advantaged retirement savings
  • Competitive interest above standard savings rates
  • No setup or maintenance fees
  • $6,000 contribution limit per year for 2019
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase CDs or savings within your IRA
  • Federally insured to $250,000 by FDIC


Traditional IRA

  • Anyone under age 70½ may open
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70½

*Consult with a tax advisor

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Roth IRA

  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age
  • See our current CD and savings account rates

*Subject to some minimal conditions.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Request More Information

For more information, or to get started, contact us today. We would love to hear from you!

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