Traditional IRA

Save money your way and take advantage of potential tax benefits.

With Pension Fund’s Traditional Individual Retirement Account (IRA), you’re in control of your own retirement. Whether you’re already participating in employer-provided retirement plans and want additional investment options, are self-employed and want to actively save for retirement, or aren’t currently participating in any retirement programs and want to start, the Traditional IRA lets you decide when and how much you save. For some, a Traditional IRA is also beneficial because contributions may be tax deductible.* Discover more about how you can let your money grow tax-deferred until retirement.

*When IRS income eligibility requirements are met

Overview
Benefits
Eligibility
How To Apply

A Traditional IRA offers you flexibility for retirement savings through contributions or rollovers.

 

Enjoy a competitive guaranteed return. Our Traditional IRA offers a guaranteed base interest rate (currently 3.5%), so it’s a secure option for your investments. With this base rate, you won’t have to worry about your savings losing value during market downturns.

Reduce your tax liability with tax-deductible contributions. If your taxable compensation falls within a certain threshold, you can either fully or partially deduct your IRA contributions from your taxes (View IRS’s IRA guidelines here). For IRA owners who aren’t eligible for a tax deduction, you can still contribute additional funds for retirement.

Benefit from tax-deferred savings until distribution (or retirement). Participants can withdraw funds without penalty under some circumstances, including but not limited to reaching age 59 ½, becoming disabled, becoming the beneficiary of a deceased Traditional IRA owner, or using the distribution toward higher education or purchase of your first home.

Appreciate flexible savings options. For those who aren't able to participate in an employer- sponsored plan or who just want to save more to retire comfortably, the Traditional IRA will help you meet your savings goals. 

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