It's never too early to start saving for your retirement. ECU offers several IRA options and can find the right one to fit your retirement goals! Consider an IRA, even if you are currently participating in your employer's retirement plan.

TRADITIONAL IRA

You are eligible to contribute to a Traditional IRA if you are younger than 70 1/2 for the entire tax year and you or your spouse has earned income.
This IRA allows you to defer taxes on earnings until withdrawn.
Contributions may be tax deductible in the year in which you make them.

ROTH IRA

Regardless of age, you are eligible to contribute to a Roth IRA if you or your spouse has earned income and your modified adjusted gross income (MAG) does not exceed a certain limit.
This IRA allows only non-deductible contributions, but distributions after a five-year waiting period can be tax free.

COVERDELL EDUCATION SAVINGS ACCOUNT (CESA)

This account is a good tool to use for paying qualified education expenses.
Contributions can be made by any interested party, but are not tax deductible; however, distributions used to pay qualified education expenses are federal income tax free and penalty free.