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Not too late to contribute to your IRA for 2016

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Andie HartwigIRA contributions for a specific tax year can be made until your tax return deadline…so this year, you may apply IRA contributions (up to the 2016 limit) by April 18, 2017 to the 2016 tax year. This can be done for both Traditional and Roth IRA accounts.

Be aware you cannot apply automatic contributions to a prior tax year. You will need to write a check for any contributions made in 2017 that you wish to apply to 2016. For 2016, individuals may contribute a maximum of $5,500, or $6,500 if age 50 or older. However, contributions can never exceed your earned compensation for the year.

Wisconsin public school employees, their spouse or domestic partner, children, parents, and parents-in-law may participate in the IRA program offered by Member Benefits. We also accept rollovers from a variety of retirement plans.

Before you decide on any IRA program, ask about fees. Our IRA is a great option because we have no sales commission and our low annual administrative fee is lower than the fees charged by many other providers.

Call us to learn more at 1-800-279-4030.

Andrea Hartwig, RIS Specialist