Roth IRAs make the most sense if you expect your tax rate to be higher during retirement than your current rate.
A Roth IRA is a special retirement account where you pay taxes on money going into your account and then all future withdrawals are tax free. Roth IRAs make the most sense if you expect your tax rate to be higher during retirement than your current rate. Another benefit of Roth IRAs is that they do not require Mandatory Minimum Distributions.
If you have any questions or you would like to establish an IRA, please contact our IRA Specialist at 850.862.0111 x.1150 or email us via Secure Email.
IRA funds are insured up to $250,000 per depositor by the NCUA.
Roth IRA rates & terms
Our Roth IRAs have a current dividend rate of 3.95% and current annual percentage yield of 4.03%. In the previous quarter, our Roth IRAs had a dividend rate of 3.95% and an annual percentage yield of 4.03%. A $50 daily minimum balance is required to earn dividends. All Current APY and Dividend Rates shown are the current weekly rates in effect on 6/21/2024. Dividend rate and APY are variable and subject to change after the account is opened. The Previous APY and Dividend Rates stated are accurate as of the last dividend declaration date, which is the last day of the previous quarter.
Account Description
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Current Dividend Rate
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Current APY*
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Previous Dividend Rate
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Previous APY*
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Roth IRA
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3.95%
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4.03%
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3.95%
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4.03%
|
- Requires Eglin FCU Membership
- Open with a minimum $5.00 contribution
- No maturity date
- Dividends are compounded daily and will be credited to your account every quarter
- IRA funds are insured separately up to $250,000 per member by the National Credit Union Association (NCUA)
*APY = Annual Percentage Yield
Retirement Central®
Retirement Central® gives you practical ideas you can apply today to help you achieve financial security in retirement.
Resources include financial planning advice for each stage of life, answers to frequently asked questions, tools for planning investment options and establishing beneficiaries, information about opening and maintaining IRAs, and much more. Planning today will help you take the right route on your road to retirement, visit Retirement Central to get started.
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Important IRA Change
The Required Minimum Distribution (RMD) age changed due to the SECURE 2.0 Act of 2022.
The Required Minimum Distribution (RMD) age changed due to the SECURE 2.0 Act of 2022.
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IRA owners who attained age 72 on or before Dec. 31, 2022 will continue to be required to take their RMDs for 2022 and 2023 and beyond.
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IRA owners who attain age 72 in 2023 are not required to take their first RMD until the year in which they attain age 73.
Read more about the SECURE 2.0 Act of 2022 at www.finance.senate.gov/download/retirement-section-by-section-.