Whether you opt for a Traditional or a Roth, you can contribute to your IRA in several ways:
In addition, you may be able to take the funds from a Traditional IRA and invest them in a Roth IRA or
re-characterize contributions by reapplying funds from a Traditional IRA to a Roth or vice versa.
APY = Annual Percentage Yield.
IRA Fixed account offering rates are subject to change daily and are fixed for the
term of the account.
At age 72, you are required to take the minimum distribution.
1 You may withdraw funds from your Traditional IRA account at any
time, but you will incur a 10% early withdrawal penalty from the IRS if you have not yet reached age
59 ½ (some exceptions may apply). This penalty is separate from the penalty charged by BFSFCU for
early withdrawals; please refer to the Truth-in-Savings disclosure.
2 There are limitations based on the modified Adjusted Gross Income
(AGI) of you and your spouse.