As concern regarding the instability of Social Security continues to grow and company pension plans become rare, Americans are looking for new ways to secure their financial future. More and more individuals are taking the lead in saving for retirement with a Roth IRA.
The Roth IRA gives you the ability to invest your after-tax dollars today, let the investment grow tax-deferred, and take qualifying withdrawals tax-free. This is what makes the Roth IRA so unique!
There are no PSECU early withdrawal penalties on an IRA Certificate if a member has reached 59½ this year; the certificate is within the seven-day revocation period; or there is a death of the IRA owner. PSECU will also waive the early withdrawal penalty for early distribution for any purpose recognized by the IRS as a penalty-free distribution. IRA withdrawals may be subject to IRS penalties.
Rates
| Description | APY* | Rate |
| 3 months | .75% |  0.75% |
| 6 months | 1.25% | 1.24% |
| 9 months | 1.25% | 1.24% |
| 12 months | 1.50% | 1.49% |
| 18 months | 1.50% | 1.49% |
| 24 months | 1.75% | 1.74% |
| 36 months | 2.00% | 1.98% |
| 48 months | 2.25% | 2.23% |
| 60 months | 2.50% | 2.47% |
*APY denotes Annual Percentage Yield
Rates and information are subject to change at any time. Recurring deposits may be made into the certificate through automatic transfers (ATS) only. You may set up recurring deposits through ATS within 30 days after the certificate is purchased. Deposits can be stopped or reduced at any time. This rate will be paid until the certificate matures. Your certificate will automatically renew at the rate in effect at the time of maturity unless we are contacted on or before the maturity date. Upon renewal, the term will be the same as the original term. You have ten calendar days after maturity to redeem your certificate without penalty if you do not want to renew. Dividends will not accrue on the certificate after the maturity date unless it is renewed. A penalty will be imposed for early withdrawal. A minimum daily balance of $500 must be maintained in order to earn the disclosed APY. 
More Rates
How Are IRAs Insured?
Combined balances of all your PSECU IRA Certificates and IRA Shares are federally insured up to $250,000 by the National Credit Union Administration (NCUA). All of your IRA funds are insured separately from your other PSECU shares.
How Do I Make Changes?
When you want to make changes to or service an existing IRA, you have the ability to:
- Make a direct transfer of IRA funds from one financial institution to another
- Rollover IRA funds from another IRA or qualified plan
- Make one-time distributions or automatic distributions
- Converting Traditional IRA funds to Roth IRA Funds (This may require opening a new plan)
- Recharacterizing (changing) a contribution (Traditional to Roth or Roth to Traditional)
For any changes to your existing IRA, please contact us or log-in.
Deductibility Levels*
|
Full Contribution |
Partial Contribution |
No Contribution |
| Single Tax Payer |
MAGI less than $105,000 |
MAGI between $105,000 - $120,000 |
MAGI over $120,000 |
| Married, Filing Jointly |
MAGI less than $166,000 |
MAGI between $166,000 - $176,000 |
MAGI over $176,000 |
| Married, Filing Separately |
N/A |
$0 - $10,000 |
Over $10,000 |
*Applicable to Active Participants
MAGI = Modified Adjusted Gross Income
Important: The foregoing is offered solely for the purpose of providing account services information to PSECU members. PSECU does not intend to offer any tax or legal advice. Please contact a competent tax, financial or legal adviser prior to acting on this or any investment information.