IRA / Roth

The 8-Year Flexible Premium Deferred IRAs (Individual Retirement Accounts) are a tax-advantaged investment account designed to help you save for retirement. IRAs are one of the most effective ways to save and invest for the future. They allow your money to grow on a tax-deferred or tax-free basis, depending on the type of account. FCSU Financial offers an 8-Year product within various IRA types, including Traditional, Roth, SEP, and Simple IRAs.

Why Choose the 8-Year IRAs?

• Tax-Deferred Plan: You won’t pay taxes until you start withdrawing funds. Contributions to the IRA(s) still need to meet IRS contribution limits and rules.
• Stability and Security: Trust FCSU Financial® for reliable long-term investments backed by a solvency ratio of 110%.
• No Hidden Fees: Experience transparency without any front and end fees or annual fees.
• Guaranteed Minimum Growth: Earn a minimum of 3.00% APY on your funds, ensuring confidence in your savings.
• Current Rate: 4.50% APY.

Key Features:

• Eligible Age: Open new or transfer your existing IRAs to FCSU Financial up to age 85.
• Initial Deposit: Start with just $500.
• Flexible Contributions: Add funds anytime with a minimum of $30.
• Easy Funds Access: After establishing your account, you must wait until the next calendar year to withdraw up to 10% of your cash value as of January 1st without penalty; this option is available annually.
• Surrender Charges Schedule: 8%, 8%, 7%, 7%, 6%, 5%, 4%, 3%, then 0% afterward. Withdrawals made prior to age 59 ½ may also be subject to federal tax penalties.

Additional Benefits:

• Guaranteed Death Benefit: If you pass away prior to the maturity date, your beneficiary receives the full cash value of the annuity without penalty.
• Tax Postponement for Beneficiaries: Heirs may reinvest inherited funds tax-deferred with FCSU Financial.
• Flexible Payment Options: Choose your payment frequency based on your income needs.
• Post-Maturity Growth: Continue to earn the then-current interest rate after eight years without any required action.

The FCSU does not provide legal or tax advice. Please consult with your legal or tax professional to determine the best investment product for you.

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The 6-Year Flexible Premium Deferred IRAs (Individual Retirement Accounts) are a tax-advantaged investment account designed to help you save for retirement. IRAs are one of the most effective ways to save and invest for the future. They allow your money to grow on a tax-deferred or tax-free basis, depending on the type of account. FCSU Financial offers a 6-Year product within various IRA types, including Traditional, Roth, SEP, and Simple IRAs.

Why Choose the 6-Year IRAs?

• Tax-Deferred Plan: You won’t pay taxes until you start withdrawing funds. Contributions to the IRA(s) still need to meet IRS contribution limits and rules.
• Stability and Security: Trust FCSU Financial® for reliable long-term investments backed by a solvency ratio of 110%.
• No Hidden Fees: Experience transparency without any front and end fees or annual fees.
• Guaranteed Minimum Growth: Earn a minimum of 3.00% APY on your funds, ensuring confidence in your savings.
• Current Rate: 4.25% APY.

Key Features:

• Eligible Age: Open new or transfer your existing IRAs to FCSU Financial up to age 85.
• Initial Deposit: Start with just $500.
• Flexible Contributions: Add funds anytime with a minimum of $30.
• Easy Funds Access: After establishing your account, you must wait until the next calendar year to withdraw up to 10% of your cash value as of January 1st without penalty; this option is available annually.
• Surrender Charges Schedule: 6%, 6%, 5%, 5%, 4%, 3%, then 0% afterward. Withdrawals made prior to age 59 ½ may also be subject to federal tax penalties.

Additional Benefits:

• Guaranteed Death Benefit: If you pass away prior to the maturity date, your beneficiary receives the full cash value of the annuity without penalty.
• Tax Postponement for Beneficiaries: Heirs may reinvest inherited funds tax-deferred with FCSU Financial.
• Flexible Payment Options: Choose your payment frequency based on your income needs.
• Post-Maturity Growth: Continue to earn the then-current interest rate after six years without any required action.

The FCSU does not provide legal or tax advice. Please consult with your legal or tax professional to determine the best investment product for you.

To print the above information, click here.

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The Park Free Plus IRAs (Individual Retirement Accounts) – your gateway to a tax-advantaged investment opportunity designed for both short and long-term growth. At FCSU Financial, we believe in giving our members the time and flexibility to make informed decisions about their investments. That’s why the Park Free Plus IRA is available exclusively once in a lifetime, providing you with a rare opportunity for financial growth.

With a full year to earn guaranteed interest, you can explore your options without rushing. After one year, you can choose to either keep your funds in a 6-Year IRA, switch to another FCSU Financial product, or transfer them elsewhere. Additionally, we offer our Park Free Plus IRA product across various types, including Traditional, Roth, SEP, and Simple IRAs.

Why Choose the Park Free Plus IRA?

• Tax-Deferred Plan: You won’t pay taxes until you start withdrawing funds.
• Stability and Security: Trust FCSU Financial® for reliable long-term investments backed by a solvency ratio of 110%.
• No Hidden Fees: Experience transparency without any front and end fees or annual fees.

Key Features:

• Eligible Age: Open new or transfer your existing IRAs to FCSU Financial up to age 85.
• Initial Deposit: $1,000 minimum, $25,000 maximum.
• Contributions: Additional deposits are permitted beginning in year two (see our 6-Year IRAs for details).
• At the first-year anniversary: FCSU Financial will notify members and specify any required actions. If we do not receive the completed form, we will automatically extend the account for five years beyond the one-year maturity date, with benefits aligned with the 6-Year IRAs.
• Easy Funds Access: After establishing your account, you must wait until the next calendar year to withdraw
  up to 10% of your cash value as of January 1st without penalty.
• Surrender Charges Schedule: 6%, 6%, 5%, 5%, 4%, 3%, then 0% afterward. After the first year of the contract, there is a 15-day window during which withdrawals can be made without penalty. Withdrawals made prior to age 59 ½ may also be subject to federal tax penalties.

Additional Benefits:

• Guaranteed Death Benefit: Beneficiaries receive full cash value without penalty.
• Tax Postponement for Beneficiaries: Heirs may reinvest inherited funds tax-deferred with FCSU Financial.

The FCSU does not provide legal or tax advice. Please consult with your legal or tax professional to determine the best investment product for you.

To print the above information, click here.

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An Inherited IRA is a retirement account transferred to a beneficiary after the original owner’s death. The beneficiary can take distributions based on IRS rules, often required to withdraw funds within a certain period. It allows the beneficiary to manage and potentially grow the inherited assets. At FCSU Financial, you can establish an Inherited IRA if you’ve inherited one from an existing FCSU policy, or easily transfer your beneficiary payout from another institution.

Why Choose the Inherited IRA?

• Tax-Deferred Plan: You won’t pay taxes until you start withdrawing funds.
• Stability and Security: Trust FCSU Financial® for reliable long-term investments backed by a solvency ratio of 110%.
• No Hidden Fees: Experience transparency without any front and end fees or annual fees.

Options offered by FCSU Financial under IRS Rules:

1. Inherited SPIA IRA (4.00% APY): Fixed payments over a certain period of up to 10 years, starting from the date of the original account holder’s passing. The payment schedule is fixed and cannot be modify. Please contact FCSU representative to get personalized settlement calculation based on the number of years and frequency of payments.
2. 10-Year Rule (4.50% APY): The entire balance must be distributed by the end of the 10th year after the account owner’s death. Annual required minimum distributions (RMD) may be required. Available only to individual beneficiaries.
3. Stretch IRA (4.50% APY): For account owners who died before January 1, 2020, you can use the stretch provision to take required minimum distributions (RMDs) based on your life expectancy. This option helps extend tax benefits and manage tax liability.

Key Features:

• Eligible Age: Up to 85 years old.
• Initial Deposit: Minimum of $500.
• Deposits: No additional deposits allowed.
• Interest Rate: Fixed rate of 4.00% APY for SPIA IRA; Flexible rate of 4.50% APY with a minimum guaranteed 3.00% APY for Stretch IRA and 10-Year Rule.
• Surrender Charges Schedule: 5%, 5%, 4%, 4%, 3%, then 0% afterward.
• Tax Postponement for Successor Beneficiaries: Heirs of beneficiary may continue to reinvest inherited funds tax-deferred with FCSU Financial.

The FCSU does not provide legal or tax advice. Please consult with your legal or tax professional to determine the best investment product for you.

To print the above information, click here.

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A SPIA IRA, or Single Premium Immediate Annuity for Traditional IRA, is a specialized financial instrument designed to convert a one-time lump sum investment into a consistent stream of income. This income is typically disbursed monthly and can be structured to last for a predetermined period or throughout the individual’s lifetime. It is important to note that all payments received from a SPIA IRA are subject to taxation.

Key Features:

• Maximum age for opening an account is 85.
• The interest rate is guaranteed and will remain the same throughout your payment period.
• Payments can start as soon as one month after the purchase.
• The income payments can be structured in various ways:
• Lifetime Income: Payments continue for the rest of the purchaser’s life, providing guaranteed income for as long as the annuitant is alive.
• Certain Period: Payments can be made for a specific number of years, such as 5, 10 or 20 years.
• Certain & Life Combination: Payments combine lifetime payments with a certain period (for example, guaranteed payments for 10 years, then continuing for life).
• Payment schedule cannot be modified once it has been established.
• Additional deposits and withdrawals are not permitted.

Key Points about Death Benefits:

• Lifetime income does not provide a death benefit after the annuitant passes away.
• Certain Period: If a guaranteed payment period is selected (such as 10 or 20 years) and the annuitant passes away before this period ends, the remaining payments may be made to a designated beneficiary.
• Certain & Life Combination guarantees payments for a set period (such as 10 or 20 years) and offers protections for beneficiaries if the annuitant dies before this period ends. However, no death benefits are payable if the annuitant outlives the guaranteed term.

The FCSU does not provide legal or tax advice. Please consult with your legal or tax professional to determine the best investment product for you.

To print the above information, click here.

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