Take advantage of an excellent tax-advantaged way to help you work toward your retirement goals or supplement other retirement plans. The Summit can help you turn retirement dreams into reality!
Individual Retirement Accounts (IRAs) help you accumulate money to support yourself in your retirement years.
We also offer IRA and Roth IRA Certificates. See our great rates!
Contributions to a traditional IRA may be tax deductible in the contribution year. Distributions are taxed when withdrawn, but since this occurs during retirement, you may often be in a lower tax bracket than before.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 72, traditional IRAs are subject to a Required Minimum Distribution (RMD).
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 qualified withdrawals of earnings are tax-free. Roth IRAs are not subject to RMDs, allowing funds to continue growing for as long as you wish.
We’re here to help – please fill out the form with the best way to reach you; or if you prefer, contact us by phone at (800) 836-7328 extension 7230.
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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. The Summit Federal Credit Union and The Summit Retirement and Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using The Summit Retirement and Investment Services, and may also be employees of The Summit Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, The Summit Federal Credit Union or The Summit Retirement and Investment Services. Securities and insurance offered through LPL or its affiliates are:
Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value
Your Credit Union (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.
The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.