Roth IRA Accounts

Roth IRA Accounts may offer greater tax savings and withdrawal flexibility than a Traditional IRA. Both Contributory and Conversion plans are available.

While Roth IRA contributions are not tax-deductible, contributions and earnings can be withdrawn tax-free on qualified distributions.

Roth IRA Accounts have no mandatory annual distribution requirements and you can contribute beyond age 70½. Eligibility depends on income.

CARES Act, SECURE Act 2020 and your IRA

New legislation in 2020 brings flexibility in how you manage your Star One IRA:

• CARES Act (Coronavirus Aid, Relief and Economic Security Act)
• SECURE Act 2020 (Setting Every Community Up for Retirement Enhancement Act)

Contribution changes

• Traditional IRA contributions can now be made after age 70½
• Expanded definition of the eligible compensation for Graduate student IRA contributions

Distribution changes

• Distributions may be taken for birth or adoption
• Delayed age for Required Minimum Distributions (RMDs)

Learn more about the CARES Act .

Learn more about the SECURE Act 2020.

Roth IRA Accounts

• No IRA setup, administration or annual maintenance fees
• Convenience of payroll allocations and automated deposits
• Automatic IRA distributions available
• 10-business-day grace period and automatic renewal on Certificate Accounts
• Competitive IRA interest rates
• Knowledgeable, qualified staff
• Monthly statement

Roth IRA Account Summary

Roth IRA Investment Options

• Savings Account - $100 minimum deposit or $25 with automated deposits
• Certificate Accounts - $100 minimum deposit or $25 with automated deposits, 6-month, 1-year and 2-year terms

Traditional and Roth IRA Accounts are separately insured to $250,000 by the National Credit Union Administration, an agency of the United States Government. Coverdell Education Savings Accounts are insured under the same provisions as irrevocable trust accounts.