Allows participants to defer money into a Traditional IRA, and have it grow tax deferred for retirement. Contributions may be tax deductible, subject to IRS guidelines.

24/7 web and mobile access and dedicated customer service line.

Access to a financial planner in selecting funds and answering investment questions.

Ability to make monthly automatic contributions that can be put on hold at any time.

A Traditional IRA is an individual retirement account that offers tax-deferred growth and taxes are not due until withdrawals in retirement. Traditional IRA rules dictate that after age 59½, you can withdraw your money whenever you wish and pay income taxes at that time. Contributions may be tax deductible, subject to IRS guidelines.

Plan Details

Eligibility

A minimum of 18 years old and have a Social Security Number or an ITIN.

Employer Contribution Requirements

Not applicable

Features and Services
  • Pre-screened investment recommendations and options
  • 24/7 web and mobile access for account maintenance
  • Online paperless account opening
  • Ability to make monthly automatic contributions
  • Friendly customer service line
  • Ongoing investment monitoring and fund replacement when needed
  • Multi-level security features
  • Materials available in English and Spanish, as well as a Spanish speaking rep, as requested
  • Access to speak to a financial planner
Fees

Total annual fee

  • 0..57% to .59% for accounts of any size

Rollover/transfer fee

  • $50 per account, per rollover to another IRA provider

Service fee

  • $5 per month service fee will be charged on accounts that do not have a monthly auto deposit. Having a monthly auto deposit of any amount will waive the service fee altogether. NOTE: If you have a traditional IRA and a Roth IRA with us, you only need to make the monthly auto deposit to one of those accounts to have the service fee waived on both accounts.
Inactive/Dormant Accounts

A $5 monthly service fee will be assessed on accounts that do not have a monthly auto deposit.

Investment Options

This plan uses broad categories of investment options; each category contains specific funds. Click on the ‘ticker’ symbol to see the financial performance for that fund. If you choose this retirement plan, the plan provider will help you understand your investment options.

 

Minimum Account Balance

No minimum account balance required. However, a $5 monthly service fee will be assessed on accounts that do not have a monthly auto deposit.

Minimum Account Contribution

No minimum contributions. However, a monthly deposit of any amount will waive the $5 monthly service fee.

Penalties

There may be IRS taxes and penalties due if you withdraw funds prior to the age of 59½.

Portability

Participants can transfer to another IRA provider as requested. Participants can transfer funds from another IRA provider or perform a rollover from a 401(k) plan into their Aspire IRA.

Withdrawals and Loans

IRS rules do not allow for loans from an IRA. Withdrawals may be subject to IRS taxes and early withdrawal penalties prior to age 59½ .

CONTACT US:

360-725-5070
Email Us

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The Small Business Retirement Marketplace is administered by the Washington Department of Commerce as established in RCW Chapter 43.330.730-750. Plans carried on the Retirement Marketplace are verified by the Department of Financial Institutions and/or the Office of the Insurance Commissioner to meet the requirements set forth in RCW 43.330.732(7) and 735(6)(a).

Enrollment in plans on the Retirement Marketplace is voluntary. Plan enrollment is managed by private financial services firms. Saving through certain plans will not be appropriate for all individuals. Employer facilitation of most retirement savings plans carries certain legal obligations for which employers are entirely responsible. Contributing to a retirement savings plan may offer tax benefits and/or consequences. Other private sector plans not offered on the Retirement Marketplace may charge lower fees. Consult your tax or financial adviser with questions related to investments.

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