IRAs & Rollovers

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.

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

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Icon - Traditional IRA

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 Distributions are taxed when withdrawn, but since this occurs during retirement, you will often be in a lower tax bracket than before.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).

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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.

Icon - Qualified Retirement Plan Rollovers

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.


*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.

The Summit Retirement & Investment Services Professionals are registered representatives of CUNA Brokerage Services, Inc. Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. 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.

For more information about CUNA Brokerage Services, Inc., please visit cunabrokerage.com.

FR-3071354.1-0520-0622