IRA Certificates

Today's IRAs offer higher contribution limits and the amount you can contribute will continue to increase. There is also a catch-up provision for members age 50 and over.

Variable Rate IRA
Regular payroll deductions are permitted; yielding a variable rate dividend that can be converted to a certificate upon reaching $500 or more.

Traditional IRA Certificates
You can deduct your maximum contribution on your tax return and defer paying taxes until you retire. Withdrawals are permitted at age 59½, and are taxed along with your taxable income. A regular IRA Account has a minimum $500 deposit requirement with fixed dividend rates and a variety of terms available. Consult Member Services for current DayMet rates.

ROTH IRA Certificates
Contributions are not tax-deductible. Future withdrawals are tax-free and penalty-free if the account has been opened for five-years and you are 59½ or older, or if you are buying your first house (up to $10,000) or paying for a higher education. If you exceed the AGI limits, you may not be eligible or the amount you can contribute will be reduced. You can also convert all or part of a traditional IRA to a Roth IRA if your combined income is $100,000 or less in the year of conversion. The conversion is taxed along with your income.