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Membership in Northrop Grumman Federal Credit Union means co-ownership in one of the strongest credit unions in the country.

Traditional IRA

The traditional IRA always lets you defer taxes on dividends until you begin taking distributions. Most individuals younger than age 70-1/2 can make contributions to a Traditional IRA, and the contributions may be deductible on your federal income tax return. You pay no trustee fee on your IRA at Northrop Grumman Federal Credit Union so all the dividends work for you.

Summary

The Traditional IRA may be right for you if:

  • You are looking for a possible tax deduction.
  • You are the spouse of a participant in a company-sponsored retirement plan in which you are not a participant, and you meet income and tax filing requirements.
  • You want to rollover 401(k) or 403(b) distributions into an IRA to avoid the mandatory federal income tax withholding. If you're younger than 59-1/2, you will also avoid a 10% tax penalty.
  • For more information visit IRS.gov - Individual Retirement Arrangements (IRAs)

For assistance with completing the simple forms necessary to establish your IRA, please contact a Member Service Representative.

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Mailing Address
Box Number 47009
Gardena, CA 90247-6809
Call Center
800-633-2848
Monday - Friday
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If you are using a screen reader and are having problems using this website, please call 800-633-2848 for assistance.
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