Individual Traditional IRA Accounts*

A Traditional IRA offers you a way to save for your retirement with the goal of creating certain tax advantages (these advantages vary according to your income and eligibility). We offer the following features:

• No minimum deposit or balance is required
• Deposits may be made through direct deposit and automatic payroll deductions (setting up Payroll Deduction can make this easy)
• Additional deposits may be made at any time, up to the maximum contribution allowed, per year, by law
• No account maintenance fees
• Dividends compound monthly
• Tax deferred contributions and dividends may become taxable upon withdrawal (consult your tax advisor)
• If you are under age 70-1/2, and if you have earned income from employment, you may contribute up to a maximum of $5,000, catch up contribution (an additional $1,000 for 2005, $1,000 for tax year 2006 forward) if you are age 50 or older**
• Withdrawals from traditional IRAs can begin at age 59-1/2

If you want to see what returns you'll receive from the Traditional IRA, click here to use our online Retirement Calculator.

Here's how you can open an account:

You can call our 24 Hour Communications Department at 877-MY-LAPFCU (877-695-2732) for more information.  You may also stop by any of our four branches. Click here for branch locations.

* Please consult your tax advisor for recommendations on which type of IRA will be most beneficial to your specific financial situation and IRS restrictions.

**Certain restrictions may apply depending on age or income level.