IRAs / Retirement

With a GLCU traditional IRA, you can earn tax-deferred dividends on the savings you will need for a secure retirement. Your high dividend earnings are tax-deferred until you begin making withdrawals - normally after you retire and are in what may be a lower tax bracket. Members, filing singly, may also receive an immediate tax deduction with a traditional IRA. Married members, filing jointly, may be able to deduct more. Roth IRAs are also available through GLCU.

Newer tax laws offer opportunities to set aside more funds for your retirement years through higher limits on all three types of IRAs. It may be a good time to review how much you want to invest yearly. Please contact us for contribution limits that apply to your personal situation.