Retirement & Investments

IRAs & Rollovers

Individual Retirement Accounts (IRAs) help you accumulate money to support yourself in your retirement years.

Check the background of our investment professionals on FINRA’s BrokerCheck.

Traditional IRA

Contributions to a traditional IRA are made tax-free. Distributions are taxed when withdrawn, but since this occurs during retirement, you will often be in a lower tax bracket than before. Anyone under age 70½, regardless of earnings or tax filing status, can contribute to a traditional IRA. Starting at age 70½, traditional IRAs are subject to a Required Minimum Distribution (RMD).

Roth IRA

Contributions to a Roth IRA are taxed and are subject to income limits, restricting how much you can contribute depending on your earnings and filing status. However, regardless of tax bracket or income level, your distributions are tax-free. Roth IRAs are not subject to RMDs, allowing funds to continue growing for as long as you wish.

Qualified Retirement Plan Rollovers

Qualified Retirement Plan Rollovers are tax-free account-to-account transfers that preserve the tax-sheltered status of the assets. Your balance in a tax-qualified employer-sponsored retirement plan – such as a 401(k), tax-sheltered annuity 403(b), or governmental 457(b) plan – must be rolled over to another tax-qualified account such as an IRA.

*Summit Retirement & Investment Services Advisors are registered representatives of CUNA Brokerage Services, Inc.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/ FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. Representatives are not tax advisors. For information regarding your specific tax situation, please consult a tax professional.

FR-2033502.1-0218-0320

Financial & Wealth Management

The Summit Retirement & Investment Services program is offered through CUNA Brokerage Services, Inc.*, a broker/dealer focused on serving credit union members. CUNA Brokerage Services is an affiliate of CUNA Mutual Group.

Check the background of our investment professionals on FINRA’s BrokerCheck.

Investment Services

The Summit Retirement & Investment Services advisors can help you formulate your retirement or savings plan. Based on your goals and timeframe, your advisor will help you allocate your assets into the appropriate investment vehicles, which may include:

Stocks

Purchasing stock makes you a shareholder, or part-owner, in the company issuing the stock. Many investment portfolios include a diversified selection of stocks.

Bonds

Companies or governments often issue bonds, often referred to as fixed-income securities, to raise money. Bonds have a predictable rate of return that is typically, comparatively lower.

Mutual Funds

A mutual fund is a professionally-managed collection of investments that allows for a number of investors to own the variety of investments it contains. Gains and losses of the fund are shared proportionally among the fund’s investors. Each mutual fund has its own guidelines dictating which investments are included in the fund.

*Summit Retirement & Investment Services Advisors are registered representatives of CUNA Brokerage Services, Inc.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/ FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. Representatives are not tax advisors. For information regarding your specific tax situation, please consult a tax professional.

FR-2033502.1-0218-0320

Life Insurance, Disability Income Insurance, & Long Term Care

Insurance is another way to both plan for the future and be protected in case of something unplanned.

Check the background of our investment professionals on FINRA’s BrokerCheck.

Life Insurance

Life insurance provides income to beneficiaries in the event of the policyholder’s death. It offers many people peace of mind, but it can also be an important part of a retirement, estate or business plan. Term life, whole life and universal life are the three primary types of life insurance policies available.

Long Term Care

Long-term care insurance is designed to cover extended care costs not covered by usual health insurance policies, Medicare, or Medicaid. Living assistance, therapy sessions or nursing homes may be qualified costs covered under certain plans.

Disability Income Insurance

Disability income insurance, or “income protection,” insures the policyholder in the case that a disability prevents the policyholder from performing work duties and therefore earning income.

Annuities

Annuities are often used to provide steady retirement income. In exchange for a particular investment or series of investments, and depending on the amount invested, an annuity guarantees income payments when you retire. The amount and frequency of the payments can be tailored to your needs.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/ FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. Representatives are not tax advisors. For information regarding your specific tax situation, please consult a tax professional.

FR-2033502.1-0218-0320

Education Funding Solutions

A Summit adviser can help you plan and save for a child’s future educational needs.

Check the background of our investment professionals on FINRA’s BrokerCheck.

529 Plans

529 plans, or “qualified tuition plans,” are tax-advantaged savings accounts for future college tuition and related costs. Eligible expenses, such as tuition, books, computers, room and board, vary with each type of plan. The two types of 529 plans are pre-paid tuition plans and college savings plans.

Coverdell Education Savings Account

A “Coverdell ESA” or “education savings account” are tax-advantaged investment accounts for future education expenses. In addition to higher education expenses such as tuition and fees, qualified expenses include elementary and secondary education.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/ FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. Representatives are not tax advisors. For information regarding your specific tax situation, please consult a tax professional.

FR-2033502.1-0218-0320

Get Professional Financial Help

The Summit Retirement & Investment Services program is offered through CUNA Brokerage Services, Inc.*, a broker/dealer focused on serving credit union members. CUNA Brokerage Services, Inc. is an affiliate of CUNA Mutual Group.

Take advantage of one-on-one financial planning with an experienced investment professional who can work with you to:

  • Analyze and organize your retirement income sources

  • Develop a plan for meeting your income needs

  • Design a personal investment portfolio specifically for you

  • Provide a system of monitoring and adjusting your plan during your retirement

Here to Assist You

Benefit from the insights of a dedicated career professional, carefully selected and trained to serve Summit members, who will work with you to help you achieve your personal financial goals.

  • Ellen Harnischfeger

    Ellen Harnischfeger
    Manager, Retirement & Investment Services

  • Brian Hopper

    Brian Hopper
    CRPC®, Vice President, Wealth Management
    Rochester

  • Robert Wright

    Robert Wright
    Financial Advisor
    Rochester

  • David Goldpenny

    David Goldpenny
    LUTCF, CRPC®, Vice President, Wealth Management
    Buffalo

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    Jeff Baldigo
    Financial Advisor
    Syracuse 

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    Angela Lobene
    Assistant

More About Our Team

View the backgrounds of our investment professionals on FINRA’S BrokerCheck.

*Summit Retirement & Investment Services Advisors are registered representatives of CUNA Brokerage Services, Inc.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/ FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America.
Representatives are not tax advisors. For information regarding your specific tax situation, please consult a tax professional.

CHARTERED RETIREMENT PLANNING COUNSELOR (SM) AND CRPC® are registered service marks of the College for Financial Planning®.

FR-2033502.1-0218-0320