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Roth IRA Accounts

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

View our "IRAs—COVID-19, Retirement, and Beyond" webinar

During this unprecedented time, a new norm has come and new laws were passed, but your goal to live financially stable during retirement more likely has not changed. Please join us in this workshop presented by Star One Certified IRA Professionals to gain essential knowledge on IRAs which encompasses eligibility, portability, distribution, tax reporting and beneficiary options. Participants will also learn how to avoid regulatory pitfalls by recognizing the features of IRAs and uncovering the changes in laws that govern them brought forth by the CARES Act and SECURE Act 2020.

View the "IRAs—COVID-19, Retirement, and Beyond" webinar.

Roth IRA Accounts may offer greater tax savings and withdrawal flexibility than a Traditional IRA. Both Contributory and Conversion plans are available.

While Roth IRA contributions are not tax-deductible, contributions and earnings can be withdrawn tax-free on qualified distributions.

Roth IRA Accounts have no mandatory annual distribution requirements and you can contribute beyond age 70½. Eligibility depends on income.

CARES Act, SECURE Act 2020 and your IRA

New legislation in 2020 brings flexibility in how you manage your Star One IRA:

  • CARES Act (Coronavirus Aid, Relief and Economic Security Act)
  • SECURE Act 2020 (Setting Every Community Up for Retirement Enhancement Act)

Contribution changes

  • Traditional IRA contributions can now be made after age 70½
  • Expanded definition of the eligible compensation for Graduate student IRA contributions

Distribution changes

  • Distributions may be taken for birth or adoption
  • Delayed age for Required Minimum Distributions (RMDs)

Learn more about the CARES Act .

Learn more about the SECURE Act 2020.

Roth IRA Accounts

  • No IRA setup, administration or annual maintenance fees
  • Convenience of payroll allocations and automated deposits
  • Automatic IRA distributions available
  • 10-business-day grace period and automatic renewal on Certificate Accounts
  • Competitive IRA interest rates
  • Knowledgeable, qualified staff
  • Monthly statement

Roth IRA Account Summary

Roth 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

Traditional and Roth IRA Accounts 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.

Roth IRA Interest Rates

IRA / ESA Savings

0.50

%

APY (0.50% rate)



6-Month IRA / ESA

0.50

%

APY (0.50% rate)



1-Year IRA / ESA

0.55

%

APY (0.55% rate)



2-Year IRA / ESA

0.60

%

APY (0.60% rate)

 

Open a Roth IRA

 

Service your Roth IRA

 

Additional Roth IRA Information and Help



Scam and Fraud Alert

Several Star One members reported receiving a phone call or text from a person claiming to be from Star One's fraud department with a caller ID reflecting 866-543-5202.

The caller is impersonating a Star One employee to gain your trust with the goal of getting access to your account.

The caller may try to reassure you that it's OK to share your information—please hang up, it's not OK, EVER!