Water & Light Credit Union offers three IRA options:

Traditional

• Can be opened and funded without employer participation
• Immediate tax benefits, with contributions and/or earnings tax-deferred until retirement
• Funds are always accessible
• There is no minimum contribution per year

Roth

• Invest your after-tax dollars today growing tax-deferred and withdrawal the principal and earnings tax-free after five years
• The principal amount is never subject to taxes or penalties in the future as long as you stay within contribution guidelines

Educational

• A savings plan for higher education
• Parents and guardians are allowed to make nondeductible contributions for children under 18 years old
• The funds can be withdrawn tax-free when they are needed for educational purposes