IRAs

Don't count on Uncle Sam to support you in your golden years. Take retirement into your own hands and open an IRA.

Roth and Traditional IRAs offer a tax-advantaged way to save for the future — earn interest above standard savings. Talk to a Sunnyside Federal representative about opening the account that's right for you.

SUMMARY

• Tax-advantaged retirement savings
• Competitive interest above standard savings rates
• No setup or maintenance fees
• $6,000 contribution limit per year for 2019
• Additional $1,000 "catch-up" contribution allowed for ages 50+
• Funds can be used to purchase CDs or savings within your IRA
• Federally insured to $250,000 by FDIC

Traditional IRA

• Anyone under age 70½ may open
• Contributions are tax deductible on state and federal income tax*
• Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
• Withdrawals can begin at age 59½
• Early withdrawals subject to penalty**
• Mandatory withdrawals at age 70½

*Consult with a tax advisor

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Roth IRA

• Contributions are NOT tax deductible
• Earnings are 100% tax free at withdrawal
• Principal contributions can be withdrawn without penalty*
• Withdrawals on interest can begin at age 59½
• Early withdrawals on interest subject to penalty**
• No mandatory distribution age
• See our current CD and savings account rates

*Subject to some minimal conditions.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.