Achieve Retirement Success with Nebraska Energy Federal Credit Union

Retirement is an important step in financial success, and at Nebraska Energy Federal Credit Union we offer many ways to help get you there. Click on any of the IRA tabs below to learn more.

Traditional IRAs, Rollover IRAs and Roth IRAs from NE-FCU

  • Traditional IRA
  • Rollover IRA
  • Roth IRA
  • Important Facts

Traditional IRA

A Traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Some contributions may be tax deductible in the year they are made. Qualifications to establish a Traditional IRA are: you have to be under 70 ½ years old and have earned income. The maximum annual contribution to a Traditional IRA is $5,500.00. If you are age 50 or over, you can make an additional “catch-up” contribution of $1,000.00. The contribution deadline for the current year is tax day of the following year, usually April 15.

Contact Us Today: (800) 453-3913

*Members are encouraged to verify tax advantages by consulting with their advisor.

Rollover IRA

Retiring or changing jobs? Thinking of rolling over your qualified pension plan into an IRA? Fun fact: If an IRA is composed entirely of one or more rollovers from a qualified pension plan, it may be eligible to be rolled back into a qualified pension plan at a later date. You can do this with our Conduit Rollover IRA. At Nebraska Energy Federal Credit Union, all you have to do is open the Rollover IRA, and we’ll handle the rest.

Contact Us Today: (800) 453-3913

Roth IRA

A Roth IRA account features qualified tax-free withdrawals after a five-year holding period. Contributions are nondeductible and taxed in the year they are earned rather than when they are withdrawn. That means members who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA now. Unlike the Traditional IRA, there is no requirement to begin taking distributions at age 70 ½.

Contact Us Today: (800) 453-3913

Important Facts About IRAs

The maximum contribution that can be made to a Roth IRA is $5,500.00. If you are age 50 or over, you can make an additional catch-up contribution of$1,000.00. The IRA owner may be eligible to receive an income tax deduction for his contribution. Eligibility for a deduction is based on whether an IRA owner is an active participant in an employer sponsored retirement plan, the IRA owner's tax return filing status and the amount of adjusted income. The contribution deadline for the current year is tax day of the following year, usually April 15.

*Members are encouraged to verify tax advantages by consulting with their advisor.