Retirement Accounts in San Diego

Your financial future is important to us — and that means saving for your retirement. An Individual Retirement Account, commonly referred to as an IRA Account which might be an important step in planning for your future. With Mission Fed's Credit Union Retirement Account, you’ll find a variety of ways to save, including the Traditional Individual Retirement Account (IRA), Roth IRA and Simplified Employee Pension Plans (SEP IRA). To learn more about the differences between each of our Credit Union Retirement Accounts, review the chart below.

Federally insured
Enjoy peace of mind in retirement planning while your money grows— your IRA deposits are insured up to $250,000 by the National Credit Union Administration (NCUA). Traditional IRA and Roth IRA balances are insured in the aggregate to the maximum of $250,000.

Free direct rollover from an employer sponsored plan
If you recently left an employer, you can move money from your retirement plan without tax consequences with a direct rollover to a Mission Fed IRA. Let your retirement savings and earnings continue to grow at Mission Fed. Visit one of our branches to open your retirement account today.

Options Traditional IRA Roth IRA SEP IRA
Who can participate Any Mission Fed member with earned income. Some IRS restrictions may apply. Any Mission Fed member with earned income. Any self-employed Mission Fed member with earned income.
Contribution* Up to $6,000 a year or $7,000 a year if age 50 or over. Some IRS restrictions may apply. Up to $6,000 a year or $7,000 a year if age 50 or over. 25% of your compensation or up to $56,000, up to any age.
Spousal Contribution (married couples, filing a joint return) A spouse may contribute up to $6,000 annually or $7,000 if age 50 or over based on earned income. Some IRS restrictions may apply. A spouse may contribute up to $6,000 annually or $7,000 if age 50 or over based on earned income. Due to the complexity of this plan, please consult with a tax advisor to determine your contribution.
Dividends Calculated daily and paid monthly. Calculated daily and paid monthly. Calculated daily and paid monthly.
Withdrawals without penalty You’ve reached age 59 ½ or you are withdrawing the funds under an IRS qualified exception. If it has been 5 years since you made your first contribution to a Roth IRA and you have reached age 59 ½; or you are withdrawing the funds under an IRS qualified exception. You’ve reached age 59 ½ or you are withdrawing the funds under an IRS qualified exception.
Application, administrative or maintenance fee None None None
Minimum deposit None None None
Required minimum distribution age Yes, 72 No Yes, 72
Notes ** Early withdrawal will incur penalties unless an IRS exception applies. Tax-free withdrawals on IRS qualified distributions. Early withdrawal will incur penalties unless an IRS exception applies.
*It is important to know that, if you have a Traditional and Roth IRA, the annual limits above apply to combined contributions and may have income limit and other restrictions. Please consult with a qualified tax advisor to understand your contribution limits. Contribution amounts are for 2019 and are subject to change.
**A qualified tax professional can help you decide whether a Traditional or Roth IRA is best for your particular situation.

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