Merced School Employees Federal Credit Union

Merced School Employees Federal Credit Union
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Retirement

We offer several ways to save for retirement with accounts that earn higher than average tax-deferred dividends. Individual Retirement Accounts are insured separately up to $250,000, by NCUA.

Individual Retirement Accounts (IRA's)

Contributions can be made to a Traditional IRA at any time with a maximum contribution of $5,500 for the year 2014. If you are 50 or older you can contribute an additional $1,000 for a total of $6,500. This account may provide an immediate tax break because the dividends are tax-deferred.

Roth IRA's

The Roth IRAs allow you to make after-tax contributions, without ever paying taxes on the accumulated earnings. Contributions can be made at any time to add to your principal with a maximum contribution of $5,500 for the year 2014. If you are 50 or older you can contribute an additional $1,000 for a total of $6,500.

Coverdell Education Savings Accounts

The Coverdell Education Savings Accounts allow you to make after-tax contributions, without ever paying taxes on the accumulated earnings. Contributions can be made at any time to add to your principal with a maximum contribution of $2,000 for the year 2014.

IRA, Roth and Coverdell Term Savings Accounts

Get the most out of your retirement dollars by opening an IRA Term Savings Account. With a $2,000 minimum balance, you can purchase a Traditional, Roth or Coverdell Term Savings Account for period of 1 to 2 years.

IMPORTANT NOTE: This is only basic information, you should always consult your tax advisor.

Use our Retirement Calculators to calculate how much you need to save to achieve your retirement.

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More information on our products, services or feedback on our Web site | Phone: 209-383-5550 or 800-542-2345 | Fax: 209-383-2308 | Email Us


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Merced School Employees Federal Credit Union