INDIVIDUAL RETIREMENT ACCOUNTS

SAN DIEGO FIREFIGHTERS FCU OFFERS TRADITIONAL AND ROTH IRAs

Earn more money for your retirement years! Our IRAs offer the flexibility of no minimum deposit and no limit on the number of contributions, while IRA term certificates of deposit enable you to lock in higher rates on larger deposits.* You can have one, or the other, or even both.

  • Choose from Traditional or Roth IRAs

  • Earn higher dividends and lock in your money for your retirement years

  • No minimum deposit to open

  • No minimum balance required

  • Dividends may be tax deferred or tax deductible. Consult your tax advisor

  • Make your contributions automatically through payroll deduction to your account

  • IRAs are insured separately by the NCUA up to $250,000**

WHICH IRA IS RIGHT FOR YOU?

Traditional IRA

This individual retirement account is for those who are looking for tax deferred growth potential, as IRA contributions may be tax deductible depending on your circumstances. Many people pay fewer taxes on these earnings because they move to a lower tax bracket after retirement.

Roth IRA

Offers more flexibility than Traditional IRA around how and when money can be withdrawn. This individual retirement account has the same contribution limits as a Traditional IRA, but you don't have to be under 70½ years old to contribute. Contributions are not tax-deductible during the current tax year, but the earnings on your contributions are tax-deferred and may be tax-free if you wait to withdraw funds until you've had your Roth IRA for at least five years and you either reach the age of 59½, become disabled, or qualify as a first-time homebuyer.

What is the difference from a Traditional IRA and a ROTH IRA?

Traditional IRA contributions are tax-deductible on both state and federal tax returns for the year you make the contribution; withdrawals in retirement are taxed at ordinary income tax rates. Roth IRAs provide no tax break for contributions, but earnings and withdrawals are generally tax-free.

The main difference is when you pay income taxes on the money you put in the plans. With a Traditional IRA, you pay the taxes on the back end - that is, when you withdraw the money in retirement. Remember, in both Traditional and Roth IRAs, your money grows tax free while it's in the account.


*Early withdrawal penalties may apply when withdrawing funds before the maturity date.
**Certain restrictions apply.

IRA to Roth Conversion Calculator
This calculator that will help you to compare the estimated consequences of keeping your Traditional IRA as is, versus converting your Traditional IRA to a Roth IRA.

Assumptions: This calculator assumes you will keep your Roth IRA for at least 5-years and you won't withdraw any funds until age 59-1/2. The calculator also assumes your return on investment remains constant and that you will remain in the indicated federal tax bracket for each period (conversion may or may not push you into a higher tax bracket for the year of conversion). Finally, the calculator does not account for any state taxes or AMT (Alternative Minimum Tax). All results are hypothetical, so be sure to consult a qualified tax professional before making any decisions regarding your existing IRA.

Current age:
Age at retirement (start making withdrawals):
Number of years to receive income:
Pre-retirement rate of return on investments (% before tax):
Post-retirement rate of return on investments (% before tax):
Current federal income tax bracket (%):
Federal income tax bracket during retirement (%):
Current IRA balance:
Non-deductable (pre-taxed) portion of current IRA balance:
Conversion tax will be paid from:
At Conversion Traditional IRA Roth IRA
Current deductible portion of IRA:
Non-deductible portion of current IRA:
Forgone investment amount used to pay conversion tax:
Conversion amount:
Conversion tax paid from IRA:
Comparison balance:
From Now Until Retirement Age Traditional IRA Roth IRA
Estimated deductible portion of balance:
Estimated non-deductible portion of balance:
Estimated of forgone investment value:
Estimated Roth IRA balance:
Estimated value at retirement:
During Retirement Traditional IRA Roth IRA
Annual after-tax income from deductible portion:
Annual after-tax income from non-deductible portion:
Annual forgone investment income:
Annual Roth IRA income:
Comparison Totals Traditional IRA Roth IRA
Total annual after-tax income:
Total monthly after-tax income:


Retirement Savings Calculator
Use this calculator to compute how much you would need to have invested in order to withdraw a specified amount each month over the course of a specified period of time. For example, if you want to be able to withdraw $500 during each month of your expected 20-year retirement, this calculator will tell you that if you expect to earn a 10% interest rate you will need to have $51,812.30 saved up by the time you retire. This is often referred to as "Present Value of an Annuity" analysis.

To compute the Present Value of an Annuity, fill in the first three text boxes and then click the "Compute" button.

Enter the amount you would like to withdraw each month:
Enter the annual interest rate you expect to earn:
Enter the number of years you would like to make the monthly withdrawals:
This is how much you need to have saved: