Resource Library - Traditional and Roth IRA

Welcome to the resource library. Use the navigation menu on the right to browse through our website content by category. Use the menu below to sort the content by title, creation date, or the date of the last edit.

Sort By:    Order: Go >>


Don’t miss these curtain calls

Continued from Breaking into your second act. If you’re planning to retire soon, refer to this handy list of deadlines so you don't miss any important dates when preparing to retire.


Because you asked: Statement changes coming

You asked for changes on your retirement statement, so we’re delivering!


Teens + IRA = Super savvy

Is your teenager planning for retirement? It sounds strange, yet setting up a Roth IRA for your teen may be one of the smartest things you can do. Plus, it doesn’t require a lot of dough to get it going.


Breaking into your second act

Before making your retirement debut, you need to rehearse for the part. The act of retiring changes everything from what you do every day and who you see to how you spend and manage your money.


IRA 5498 forms coming soon

Form 5498 is an informational tax form sent at the end of May to all Traditional and/or Roth IRA account holders.


Investment spotlight: Prudential Guaranteed Investment

Understanding basic principles about how to analyze an investment can help you make wise choices and feel confident about it. In our January 2017 issue of your$, we’ll help you learn more about investment principles. As a prequel to our upcoming issue, we first shine a spotlight on the Prudential Guaranteed Investment.


Investment spotlight: Mutual Funds 101

Knowing how to secure your financial well-being is one of the most important things you’ll ever need to do in life. You don’t have to be a genius to do it. You just need to know a few basics, form a plan, and commit to it.


Choosing Beneficiaries for Your Retirement Account

Though saving as much as possible in your retirement account is important, do not lose sight of one of the most important financial decisions you will make: determining the beneficiaries of your account. Without careful consideration, your decision may have unexpected tax and estate planning implications.


SmartPlan–IRA

SmartPlan-IRA is an electronic transfer system that allows you to move money into your WEAC IRA from your bank, savings and loan, or credit union. 


To Roth or Not to Roth in Your IRA

This brochure explains the Roth IRA and provides information to help you decide how after-tax and before-tax savings fit into your retirement savings strategy.


Traditional IRA Withdrawal Options

This brochure describes the ways you can choose to receive income from your Traditional IRA. The withdrawal rules for a Roth IRA are different from a Traditional IRA.


Roth IRA Withdrawal Options

Know when and how to access your Roth IRA savings.


Required Minimum Distributions

The Internal Revenue Service (IRS) requires you to start withdrawing money from your before- and after-tax (Roth) 403(b) account at the later of age 70½ or the calendar year you retire from an employer through which you contributed. These withdrawals are called required minimum distributions (RMDs).


Mutual Funds 101: One-decision investing, two options

Learn more about Model Portfolios and Target Retirement Funds (continued from Investment Spotlight: Mutual Funds 101).


Mutual Funds 101: What's next?

Apply what you’ve learned from "Investment Spotlight: Mutual Funds 101" to start investing in your future or evaluate your current investments.


Will your retirement plan last a lifetime?

How would your plans for retirement change if you knew you were going to live to 100? When planning for your retirement years, you’ll be better prepared if you understand the role life expectancy should play on your savings decisions.


Retirement program myth busters!

We bust some of the common myths members hear about Member Benefits’ retirement and savings program.


Not too late to contribute to your IRA for 2016

IRA 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.


Special retirement considerations for women

While both sexes are living longer than ever before, a longer life expectancy can impact women even more in retirement due to a number of issues. This article is a continuation of, "Will your retirement plan last a lifetime?"


$aving is a family thing

Your teen can start contributing to our Roth IRA as long as they have a job. See what just $20 a month could do to secure your child’s future.


You'll thank yourself later

Did you know? 54% of American workers say they have less than $25,000 saved for retirement. The biggest regret people have when they retire is that they didn't save enough. Do something today that your future self will thank you for.


Contribution limits remain the same

Are you maximizing your retirement contributions? If not, you may wish to re-evaluate the amount you're putting toward retirement.


Our guaranteed rate

A summary explanation of our Prudential Guaranteed Investment interest rate.


Use your IRA to help charity

Did you know you can choose to give up to $100,000 to a qualified charity from your IRA without counting it as taxable income when you are over 70 ½ years old? This type of gift is called a qualified charitable distribution.


Share the benefits with your family

family treeIf you are already taking advantage of the low-cost retirement savings programs through WEA Member Benefits, you know that more of your money is working for you compared to other programs. As a benefit of your membership in our program, your family members (your spouse or domestic partner, children, parents and parents-in-law) are eligible to participate in our IRA program.1

 


Watch your mail for important retirement information

Look for your 1099-R if you took a reportable distribution from your WEA TSA Trust 403(b) and or WEAC IRA account(s) during 2016. You should also have received information about reviewing your beneficiaries.


To Roth or not to Roth in your IRA

That is the question…but the Roth savings option is often as misunderstood by people as Shakespeare. Get to know some of the benefits and considerations of the Roth so that ‘thee can maketh an informed own choice.’


Smart Money Move #2: Pay less, get more

The impact of fees over time on your IRA or 403(b) account can significantly reduce your nest egg, and not all providers charge the same fees. Learn more about some of the fees to watch for so you can keep more of your money working for you.



Why choose us?

We operate as a trust which reinvests any profits back into programs that benefit participants. As a member organization, we have only your best interest at heart. Helping you achieve your financial goals is our mission.


Women and retirement series: Working with less

In part three of a four-part series on women and retirement, it's a fact that women's lifetime earnings are often lower than men's. Even if you can only put a small amount toward retirement, do it today. It’s never too early or too late to get started.


Income from self-employment? Don't forget SEP retirement contributions

It is not unusual for school employees to have a job on the side during the school year or summer break. If this applies to you, don't miss out on an opportunity to save more for your retirement through a Simplified Employee Pension (SEP) plan.


IRA can mean tax savings…now or later

Contributing to an IRA gives you an opportunity to save for retirement while taking advantage of tax benefits. There are two IRA account types available—Traditional and Roth.


Time to review 403(b) and IRA contribution limits

Are you contributing as much as you can toward your retirement? If you're not maximizing your contributions, you may wish to re-evaluate the amount you're putting toward retirement.


Don’t let December spending give you a January hangover

According to an October 2016 Gallup poll, Americans expect to spend $785 on average for the Christmas holiday. While this may be a positive sign for retailers, it could become a pain in your budget that you’ll feel long after the season is over. Take a few tips from us to stay out of spending trouble and enjoy your holidays more.


IRA

An Individual Retirement Account (IRA) is a great way to save for your future. With an IRA, you can increase your retirement savings and take advantage of tax benefits. We offer mutual fund accounts and guaranteed accounts for both our Roth and Traditional IRAs. Traditional IRAs give you tax-deferred growth and possib


New educators can learn a lot with the Don’t Be Jack™ game

In our article, “Personal finance lessons: 4 insights for new educators,” new teacher Molly Walsh Anderson shared important financial lessons she’s learned in part from playing Member Benefits’ Don’t Be Jack interactive board game. It’s a great way to learn about financial issues that impact Wisconsin public school employees.


Spend wisely: six financially smart ways to spend your tax refund

Brenda Blog PhotoThe average American receives an annual tax refund of about $3,000. If you received one this year, consider using your refund to improve your financial situation. Here are six great suggestions:

1. Pay off debt. Focus on paying off credit cards and other high interest debt. Use our credit card pay off calculator to see what it will take to pay off your balance.

2. Add to your retirement savings. Add to your current retirement savings plan or open an IRA (Roth or traditional). Unsure which one? Use this tool to determine which IRA may be right for you.

3. Buy more protection. Umbrella insurance,


What to do with your tax return

Eric SchwartzDid you receive a tax refund this year? If so, here are six financially smart ways to spend your tax refund:

1. Pay off any high interest debt. Use our credit card pay off calculator to see what it will take to pay off your balance.

2. Add to your retirement savings. Add to your current retirement savings plan or open an IRA (Roth or traditional). Unsure which one? Use this tool to determine which IRA may be right for you.

3. Start saving. Open an Edvest or other 529 college savings plan for your kids or grandkids. Build up your emergency fund. Start a money market account with a higher interest rate to save for a vacation, a new car, or home remodel. Whatever your goal, you’ll feel better knowing you have a head start on your savings. Our savings calculator can help you find out what it will take to reach your goal.


Personal finance lessons: 4 insights for new educators

Every teacher knows the many important lessons they learned during their early years of teaching, and new teacher Molly Walsh Anderson likes to pass on her own personal finance lessons to help others. Here are four insights she learned during her first year that have helped her navigate new financial realities and responsibilities.


Deadlines are coming up before you know it

Get the details on deadlines for 403(b) and IRA exchanges/transfers/rollovers, postdated checks, and year-end withdrawal deadlines.


Frankenstein’s investment style

Overlooking the personality flaws, Frankenstein—or the creation of Frankenstein—can help to illustrate the important investment concept of diversification.


Ghost accounts can haunt your future

Do you have retirement accounts from previous jobs floating out there like ghosts from the past? Forgotten accounts can take on a life of their own. Learn how to head off any scary surprises.


How good is the Prudential Guaranteed Investment guarantee?

The funds in the WEA TSA Trust Program Guaranteed Investment and WEAC IRA Guaranteed Account are held by Prudential Retirement Insurance and Annuity Company. The guaranteed fund invests in a broadly diversified fixed income portfolio, designed to provide safety and an attractive rate of return.


Start the school year out right

The start of a new school year is a good time to take a look at your retirement account. Here are a few things you may want to review.


Q&A: Additional retirement contributions

What do I need to consider if I want to put additional money toward my retirement above my 6.6% contribution to WRS? Should I put it in WRS or another retirement product such as a 403(b) or IRA? Read today's blog post for what to keep in mind when making a decision.


Retired or changed jobs? Keep enjoying our low fees

We get a lot of questions on this one. If you have a 403(b) or an IRA account with us, you can keep it here regardless of your employment status and continue to take advantage of our low fees and great customer service.


Review your beneficiary designations every year

As you experience changes in your life such as marriage, divorce, or death, do not forget to review your beneficiary designations. The beneficiary designations associated with your retirement account(s) take precedence over your will.


You don't need to save a lot to get ahead, but start you must

Michelle Blog PhotoA comfortable retirement is an expensive proposition. But you might be surprised to learn that saving with as little as $20 per pay period can make a difference.

It's ok to start with a small amount, as long as you start. And, the sooner the better.

The importance of saving early is illustrated clearly in our story of Jack and Jill.


You decide how long your money lasts with new withdrawal option

Introducing the Period Certain Withdrawal Option for TSA Guaranteed Accounts You have been contributing to your TSA account for many years, and retirement is just around the corner. How might your money be paid out? What options are available to


You can stick with us

Did you know that you can stay insured with us even after you leave your school job or retire? And your Member Benefits’ 403(b) and IRA accounts can remain with us whether you retire, change districts, or change professions?



2017 Guaranteed Rate