Individual Retirement Accounts (IRAs)
Plan for a richer retirement by opening an IRA with Greater Nevada. These tax-advantaged accounts can help ensure you fully enjoy your golden years. We offer traditional and Roth IRAs with excellent rates. You can get started with as little as $1; the important thing is simply to get started.
This product is temporarily unavailable. Members who currently have IRA Share Certificates will continue to receive the advertised rates.
Visit our Financial Planning page to find out about a variety of other investment options.
- Traditional IRA
Anyone can open a traditional IRA. Contributions can be deducted from current tax returns, and the earnings are tax deferred (when they'll be subject to a lower tax bracket once you're retired).
- Dividend earnings are tax deferred
- Contributions can be deducted from income tax returns*
- Must be under age 70½ to open
- $5,000 contribution limit per year
- Additional $1,000 "catch-up" contribution allowed for ages 59+
- Withdrawals can begin at age 59½
- Mandatory withdrawals at age 70½
- Early withdrawals subject to penalty**
- Funds are federally insured to $250,000
- Visit the Online Retirement Center
*Consult with a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
- Roth IRA
Your income must be less than $95,000 annually ($150,000 for married couples) to open a Roth IRA. While you cannot deduct contributions with a Roth IRA, your earnings are completely tax free upon withdrawal. Another advantage is your principal contributions (but not the interest) may be withdrawn without penalty.
- Earnings and principal are 100% tax free upon withdrawal
- Contributions are not tax deductible
- $5,000 contribution limit per year
- Additional $1,000 "catch-up" contribution allowed for ages 59+
- No mandatory distribution age
- Principal contributions can be withdrawn without penalty*
- Early withdrawals on interest subject to penalty**
- Funds are federally insured to $250,000
- Visit the Online Retirement Center
*Subject to some minimal conditions.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
- Shares or Certificates
This product is temporarily unavailable. Members who currently have IRA Share Certificates will continue to receive the advertised rates. Greater Nevada Financial Services has a wide variety of insured CDs available for members. Click here for more information.
Greater Nevada offers you a variety of ways to invest in your IRA. Whether you have a traditional or a Roth IRA, you have a choice to save via an IRA share account or IRA certificate.
An IRA share account requires no minimum balance or term, and pays a variable rate. This is often chosen for a first-time IRA, or for holding your IRA while you decide where to reinvest it.
IRA certificates require a minimum balance and term, but typically pay a higher fixed rate over IRA share accounts.
