PIE Credit Union
Ph: 713-551-0491
Email: help@piecu.org
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IRA's
​Eligibility
Anyone under age 70 who has income from compensation (or who is filing jointly with a spouse who earns compensation).  

Anybody who has received a distribution from a qualified retirement plan and decides to move the proceeds of the plan into an IRA. 

Current dividend rate is .75% APR (.75% APY)

Contribution Limits 
$5,500 for 2015
For owners age 50 and older, you may be able to contribute up to $6,500 for 2015.  Contributions cannot exceed compensation.

  • Single individuals not active in employer retirement plans
  • Single individuals active in qualified retirement plans with MAGI below defined limits
  • Married couples with neither spouse active in an employer retirement plan
  • Married individuals active in qualified retirement plans filing join tax returns with MAGI below defined limits
  • Married individuals not active in qualified retirement plans filing joint tax returns with spouse who are, as long as MAGI is below defined limits
Deductible Contributions
Deductible up to annual contribution limit if you are:
Traditional IRA
Tax Advantages
  • Earnings grow tax-deferred until withdrawn
  • Contributions may be tax-deductible
Withdrawals
Withdraw penalty free for any of the following reasons:

  • Earnings grow tax-deferred until withdrawn
  • Qualified higher-education expenses
  • First-time home purchase**
  • Age 59
  • Disability
  • Qualifying medical expenses exceeding 7.5% of adjusted gross income
  • Payment to beneficiaries upon the owner’s death
  • Payment of health insurance premiums while unemployed for 12 weeks or longer
Roth IRA

  • Earnings are tax-deferred and withdrawals are tax-free if the account is open for five tax years and withdrawals are for a qualified reason (age 59, disability, death, or a first-time home purchase**)
  • Not required to start withdrawal at age 70
Tax Advantages
Withdrawals

  • Regular contributions can be withdrawn tax-free and penalty-free at any time
  • After the account has been open five tax years, earnings can be withdrawn tax-free and penalty-free for any of these reasons: age 59, disability, death, or a first-time home purchase
Eligibility​
You are eligible if you earn compensation and your Modified Adjusted Gross Income* (MAGI) is less than the defined limits set by Congress. If your MAGI is too high to contribute the annual contribution limit, you may be able to make a smaller contribution.

Current divided rate is .75% APR (.75% APY)

Contribution Limits
$5,500 for 2015
For owners age 50 and older, you may be able to contribute up to $6,500 for 2015.  Contributions cannot exceed compensation

Deductible Contributions
No one can deduct contributions
CD'S