A well-balance retirement portfolio is built on a foundation of insured investments with dependable returns…like a Focus One CCU Individual Retirement Account. We offer Traditional and Roth IRAs, as well as Coverdell Education Savings Accounts (ESA) and Simplified Employee Pension (SEP) IRAs.

Whether you are just starting out, raising a family, or approaching retirement, IRAs offer tremendous tax advantages (Consult your tax advisor).

Traditional IRAs – This IRA is an account that allows qualified tax-deductible contributions and also earnings to grow tax deferred. This means you don’t pay taxes on your contributions or earnings until you withdraw them. In 2008, your maximum annual contribution rises to $5,000. Changing jobs or retiring? Why not roll your assets from your retirement plan into a traditional IRA. This will allow you to delay taxes, and avoid mandatory federal withholding and other tax penalties of taking the cash payment option.

Roth IRAs – This IRA is a non-deductible account that features tax free withdrawals of earnings after a five-year holding period and when certain requirements are met. Contributions and earnings accumulate tax free. Since the money you contribute has already been taxed, withdrawals can be made any time tax-free and IRS penalty-free as long as the amount withdrawn is less than or equal to the contributions already made. You may invest in a Roth IRA in addition to any contributions you make to your company-sponsored retirement plan.

Coverdell Education Savings Account (ESA) – This account is designed to help parents save for their children’s education expenses. It allows families to contribute up to $2,000 a year per child to an account specifically for education. Cash in on tax advantages and penalty-free withdrawals, including earnings, for qualified education expenses. Don’t get caught up at the last minute paying for education, save early.

Simplified Employee Pension (SEP) IRA – This is a company sponsored IRA, employers make contributions to traditional individual retirement arrangements (IRAs) set-up for employees, subject to certain percentage of pay and dollar limits. A SEP is primarily for those that are self-employed, but can be established by a business of any size. The contributions are tax-deductible.

We recommend that you speak to your tax advisor on how each type of account might benefit your specific situation.

Don’t put your future off any longer. The earlier you start, the more you’ll save. To get more information about opening an IRA account, contact a call center representative at 626-471-3300.

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