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| Roth IRA
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A great way to save for retirement.
Roth IRAs are a great way to save for retirement. They are different than Traditional IRAs in that they promise complete tax exemption upon distribution. - Eligibility - any age meeting the following income requirements (adjusted gross income must be below $120,000 for single or $177,000 for married filing jointly)
- Contribute up to $5,000 per individual annually with an additional catch-up contribution of $1,000 for people 50 and older
- No required withdrawals
- Contributions are after-tax dollars so they are not tax-deductible
- At age 59½, and your account has been open at least five years, you can withdraw your earnings without paying federal income taxes
- Withdraw your contributions for qualified reasons, such as higher education, at any age without federal tax penalties
Choose among three options for your Roth IRA: - An IRA market account offers you the option of adding contributions anytime you want. Payroll deduction or automatic transfers from your checking account make it easy.
- IRA certificates enable you to make a lump sum deposit of $1,000 or more to open your account and lock the rate in for the term of the certificate.
- MECU Investment Advisors offers mutual funds and other investment options for a potentially higher rate of return.
 Open a Roth IRA
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