- Contributions often are tax-deductable.
- Earnings grow tax-deferred.
- Distributions generally are taxable.
- Distributions before you reach age 59 1/2 are subject to penalty unless you meet an early distibution penalty exception.
- Required minimum distributions must begin at age 70 1/2.
- Contributions are not deductable.
- Earnings grow tax-deffered
- Contributions generally can be distributed tax-free at any time.
- Earnings can be distributed tax-free if the Roth IRA holder first made a Roth IRA contribution at least five years ago, and is 59 1/2, disabled, deceased, or paying first time home-buyer expenses.
- Distributions are not required until after the Roth IRA holder dies.
More Information:
Traditional IRA:
You are not eligible to contribute to a Roth IRA, but you can contribute $5,000 to a Traditional IRA. The ability to deduct your Traditional IRA contribution will depend on your active participation status.
Traditional/ Partial Roth:
You are eligible for a partial contribution to a Roth IRA. But you can contribute to a Traditional IRA. The ability to deduct your Traditional IRA contribution will depend on your active participation status.
Traditional/ Roth:
You are eligible for either a full contribution to a Traditional IRA or a full $5,000 contribution to a Roth IRA.
Roth IRA:
You are eligible for a full contribution to a Roth IRA. You are not eligible to deduct your contribution to a Traditional IRA.
Roth/ Partial Traditional:
You are eligible for a full contribution to a Roth IRA. You are eligible to deduct only part of your contribution to a Traditional IRA.
Address:
Sterling Van Dyke Credit Union
39139 Mound Road
Sterling Heights MI 48310
| Phone: (586)264-1212 Sterling Heights (800)974-6478 Toll Free (586)264-9447 Fax |
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Hours: MON and WED 9:00am - 4:30pm TUE 10:00am - 4:30pm THURS 9:00am - 5:30pm FRI 8:00am - 6:00pm |
Website: www.svdcu.org
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