IRAs — Individual Retirement Accounts

 

The traditional IRA is an individual retirement account that allows you to defer taxes on your contribution earnings until they are withdrawn. Certain contributions are also tax-deductible in the tax year for which you make them. Every individual situation is unique, consult with a tax advisor before opening an IRA account.

You may also choose between an IRA Certificate with a specific term, an IRA Share Account or an IRA Investment Money Market Account.

You must be a member of Wings (with a Primary Share Account) prior to opening a Retirement Account. If you are not currently a member, open your account online or download a membership application.

Contribution Limits
You may contribute any amount up to 100% of your compensation, or the amount specified in the chart below — whichever is less—  to a traditional IRA (or in total between a traditional and a Roth IRA). In addition, if you reach age 50 or older by the end of the taxable year, you will be eligible to make catch-up contributions.

Learn More
Traditional IRAs | Traditional or Roth IRA — Which IRA is Right for You? |  Retirement Planning Calculator

*Subject to annual cost-of-living adjustments (COLAs), if any.

Application
Fill out the form, print and mail it to our Deposit Services - IRA Department at the address on the form.

Traditional IRA Application
 

Additional IRA Forms

• Distribution Form
• Request For Transfer Form

Contact the Deposit Services - IRA Department
For additional information, call our Deposit Services - IRA Department at 1 800 692-2274, option 8, ext. 8165, or in the Minneapolis/St. Paul metro area, call 952 997-8165.
 

 

The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. If you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA, since contributions are nondeductible and taxed in the year they are earned. Every individual situation is unique, consult with a tax advisor before opening an IRA account.

You may also choose between an IRA Certificate with a specific term, an IRA Share Account or an IRA Investment Money Market Account

You must be a member of Wings (with a Primary Share Account) prior to opening a Retirement Account. If you are not currently a member, open your account online or download a membership application.

Contribution Limits
You may contribute any amount up to 100% of your compensation or the amount specified in the chart below — whichever is less — to a traditional IRA (or in total between a traditional and a Roth IRA). In addition, if you reach age 50 or older by the end of the taxable year, you will be eligible to make catch-up contributions.

Learn More
Roth IRAs | Traditional or Roth IRA — Which IRA is Right for You? |  Retirement Planning Calculator

*Subject to annual cost-of-living adjustments (COLAs), if any.

Application
Fill out the form, print and mail it to our Deposit Services - IRA Department at the address on the form.

Roth IRA Application
 

Additional IRA Forms

• Distribution form
• Request for transfer form

Contact the Deposit Services - IRA Department
For additional information, call our Deposit Services - IRA Department at 1 800 692-2274, option 8, ext. 8165, or in the Minneapolis/St. Paul metro area, call 952 997-8165.
 

 

The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific purpose — a child’s education.
You may also choose between an IRA Certificate with a specific term, an IRA Share Account or an Investment Money Market Account.
The person for whom the CESA is opened must be a member of Wings (with a Primary Share Account) prior to opening a CESA Account. If you are not currently a member, open your account online or download a membership application.
Contribution Limits
You may contribute a total of $2,000 per year into one or more CESAs on behalf of any child.

Learn More
Coverdell Education Savings Account | College Planner Calculator

To request more information please fill out and submit the form below.



Contact the Deposit Services - IRA Department
For additional information, call our Deposit Services - IRA Department at 1 800 692-2274, option 8, ext. 8165, or in the Minneapolis/St. Paul metro area, call 952 997-8165.