All Credit Union locations will be closed Thursday, June 19, in observance of Juneteenth.
Individual Retirement Account (IRA) 1
An Individual Retirement Account (IRA) is like a 401(K) plan but for individuals. An IRA is a savings account that lets you invest and grow your money for retirement in a tax-advantaged way. IRAs are designed for tax-free or tax-deferred savings growth. Thanks to those tax-advantages, you'll save more money now and for FUTURE YOU.
There are more reasons why IRAs are a great tool to grow your retirement savings. IRA accounts belong to YOU (the individual) and are exclusively yours. Any Member with a taxpayer identification number (i.e., social security number), regardless of age, can open and contribute to an IRA account. That means it's EASY to open and begin immediate contributions to an IRA account.
How it Works:
Simply add money to your IRA over time and watch your investment grow. Eventually, investments can be withdrawn to provide income for retirement. There are two main types of IRAs: Traditional IRAs and Roth IRAs. Both are tax-deferred as long as the money remains in the IRA.
Invest in yourself! Open an IRA account!
Retirement Planning Made Easy With Ascensus 2
To offer our Members even more great benefits, we have a partnership with Ascensus, the largest independent retirement services provider in the United States. This partnership allows Members to easily complete IRA documents online before being sent to the Credit Union for processing. Invest in yourself today!
Talk with a financial advisor to learn about IRS guidelines and determine which IRA is best for you.
1 Some restrictions may apply. All rates and offerings subject to change. This content is intended to provide general information and shouldn't be considered legal, tax, or financial advice. Consult a tax or financial advisor for specific information on how certain laws apply to your situation. Ask for details. A Certificate Account can be designated as an IRA Certificate or a Health Savings Account Certificate.
2 Ascensus® and the Ascensus® logo are registered trademarks of Ascensus, LLC. Other trademarks referenced above are the property of their respective owners. Ascensus is a third-party partner to Knoxville TVA Employees Credit Union.