Third Federal Savings & Loan – Retirement CD

Traditional IRAs.
Up to $5,000 of your yearly IRA investment may qualify as a deduction. Of course, you'll want to consult your tax advisor for information about your specific situation. You can open a traditional Individual Retirement Account if you have earned income and if you haven't turned 70-1/2 by the end of this year. It's that easy to qualify.

Roth IRAs.
Contributions to a Roth IRA are not deductible. However, when you take a distribution of funds for reasons that qualify, the interest you've earned may be tax-free. Again, please consult your tax advisor for information about your specific situation. Anyone with earned income, regardless of age, can open a Roth IRA.

CATCH-UP.
Qualified individuals who are age 50 or older are permitted to contribute even more money to their IRAs. For 2008 and 2009, an extra $1,000 can be contributed as a catch-up contribution.

SEP.
We also offer a Simplified Employee Pension (SEP) for individuals who are self-employed or own a small business. Like a traditional IRA, a SEP defers federal income taxes until you withdraw funds. But you can contribute much larger amounts than those allowed into IRAs.