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Reliance Credit Union offers three IRA options:
Traditional
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Can be opened and funded without employer participation
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Immediate tax benefits, with contributions and/or earnings tax-deferred until retirement
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Funds are always accessible
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There is no minimum contribution per year
Roth
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Invest your after-tax dollars today growing tax-deferred and withdrawal the principal and earnings tax-free after five years
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The principal amount is never subject to taxes or penalties in the future as long as you stay within contribution guidelines
Educational
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A savings plan for higher education
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Parents and guardians are allowed to make nondeductible contributions for children under 18 years old
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The funds can be withdrawn tax-free when they are needed for educational purposes
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