IRAs

A Traditional IRA from Sears Federal takes the worry out of retirement. It provides safety, security and a guaranteed rate of return.

What Is a Traditional IRA?

A Traditional IRA is a tax-advantaged arrangement that allows earnings and deductible contributions to grow tax-deferred. That means you don't pay income taxes on the earnings and deductible contributions of your IRA until you begin taking withdrawals, usually after you retire and possibly are in a lower tax bracket.*

Eligible individuals must be under the age of 70 1/2. While married couples filing jointly, can contribute the maximum amount to their separate IRAs, even if one spouse has little or no earned income.

- Minimum amount to open is $10.
- Deductions are subject to restriction
- May be tax-deferred
- Required distribution at age 70 1/2.
- Check current rates here
- Funds Availability Policy here
- Penalty for premature withdrawl if below age 59 1/2.
- Total IRA deposits federally insured for up to $250,000 by the 
National Credit Union Administration,  a U. S. Government Agency.

* Distributions taken before age 59½ may be subject to a 10% premature distribution penalty tax.