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Traditional IRA

No setup, administration or annual maintenance fees are charged on Star One IRA Accounts.

Traditional IRA

  • No IRA setup, administration or annual maintenance fees
  • Convenience of payroll allocations and automated deposits
  • Automatic IRA distributions available
  • Automatic renewal on Certificate Accounts with 10-calendar-day grace period beginning on maturity date to make changes
  • Competitive IRA interest rates
  • Knowledgeable, qualified staff
  • Monthly statement

Your contribution may be tax-deductible depending on your tax-filing status, taxable income, and your participation in an employer-sponsored retirement plan.

Investments grow on a tax-deferred basis. Earnings are taxed only upon withdrawal. We offer Contributory, Rollover, Conduit, and Spousal plans. Untaxed Traditional IRA assets are now generally permitted to be rolled over into a qualified retirement plan (employer plan).

IRAs—Retirement, and Beyond: a free webinar

Please join us in this workshop presented by Star One Certified IRA Professionals to gain essential knowledge on IRAs which encompasses Cost of Living Adjustments (COLAs), eligibility, portability, distribution, tax reporting and beneficiary options. Participants will also learn how to avoid regulatory pitfalls by recognizing the features of IRAs and understanding the laws that govern them.

Thursday, October 13, 5:00 PM–7:00 PM PT
Register now for "IRAs—Retirement, and Beyond".

CARES Act, SECURE Act 2020 and your IRA

New legislation in 2020 brought flexibility in how you manage your Star One IRA.

Learn more about the CARES and SECURE Acts by selecting the links below:

Traditional IRA Summary

IRA Investment Options

  • Savings Account - $100 minimum deposit or $25 with automated deposits
  • Certificate Accounts - $100 minimum deposit or $25 with automated deposits, 6-month, 1-year and 2-year terms

IRA Interest Rates

IRA / ESA Savings

1.10

%

APY** (1.09% rate)



6-Month IRA / ESA

1.30

%

APY** (1.29% rate)



1-Year IRA / ESA

1.70

%

APY** (1.69% rate)



2-Year IRA / ESA

2.00

%

APY** (1.98% rate)

 

Open a Traditional IRA

 

Service your Traditional IRA

Additional IRA Information and Help



Traditional IRA Tax Deduction

Contributions up to the limit are fully tax-deductible if you are not an active participant in an employer-sponsored retirement plan.

If you are an active participant and a single tax filer, your deductibility phase-out range for tax year 2022 is $68,000 - $78,000, up from $66,000 to $76,000 in 2021 .

If you are married and filing a joint return, your deductibility phase-out range for tax year 2022 is $109,000 - $129,000, up from $105,000 to $125,000 in 2021.

Note: For an IRA contributor who is not an active participant and is married to someone who is an active participant, the deductibility phase-out range is $204,000 - $214,000 for 2022 and $198,000 - $208,000 for 2021.

Traditional and Roth IRAs are separately insured to $250,000 by the National Credit Union Administration, an agency of the United States Government. Coverdell Education Savings Accounts are insured under the same provisions as irrevocable trust accounts.


** Annual Percentage Yield