Open a Tinker Federal Credit Union IRA and make money with our competitive savings rates.
IRAs are designed to help you save for retirement. You can save money because the earnings may be tax deferred or tax-exempt. We advise you to consult a tax advisor to determine your eligibility.
|There are no income limits for normal contributions; however, certain criteria must be met for contributions to be tax deductible (speak with your tax advisor).||Income must be under Modified Adjusted Gross Income (MAGI) limits to qualify for normal contributions (speak with your tax advisor).|
|Early distributions (prior to age 59 1/2) are penalized 10% by the IRS, unless otherwise stated.||Earnings on early distributions (prior to age 59 1/2) are penalized 10% by the IRS, unless otherwise stated.|
|All funds are taxed no matter how long the IRA has been opened.||Distributions are tax-free if five-year holding period is met AND qualified distribution reason is met.|
|Beginning at age 70 1/2 the IRA owner must take Required Minimum Distributions (RMDs) each year.||There are no required distributions|