Understanding Required Minimum Distributions (RMDs)

Required Minimum Distributions (RMD) for tax-deferred retirement accounts such as a 401(k), 403(b), or an IRA begin when you turn 70 1/2.

Watch our video for more info about the 529 plan.We know the importance of education and want our members to be able to achieve this important goal. That’s why our CFS* Financial Advisor is able to offer you a 529 college savings plan – only available to Alameda County Employee Retirement Association members.

Whether you are saving to help your kids, grandkids, or other family members to attend school or planning ahead for your own education expenses, a 529 savings plan through American Funds comes with many benefits including:

  • Flexibility – Use the assets in your account to fund expenses at any U.S. public or private college – undergraduate, graduate, professional or vocational. Qualified expenses include tuition, fees, room and board, and many more.
  • Investing for any beneficiary – Use your 529 account for your children, grandchildren, nieces, nephews, or friends. You can even save for yourself. In addition, there are no age or income limits.
  • Convenience of automatic investing – Investing is easy and can be done through deductions from your personal bank account or Alameda County payroll deductions.
  • Low plan costs – Never pay a sales commission, and you benefit from low operating expenses so more of your money goes toward your goal and not fees.
  • Control over your account – Unlike other college funding vehicles, you control the assets in a 529, even when your beneficiary reaches the age of enrollment.

We think you'll love the sound of thisUse Savings At: Colleges, Universities, Community Colleges, Vocational Schools, Some Private Elementary, High Schools.

Applying is easy. Here's how:

  1. DOWNLOAD application
  2. FILL OUT the application, including name, social security number, beneficiary, etc.
  3. SUBMIT application by mail or fax to the address on the form, or you may drop it off at any 1st United Credit Union branch 

For more information or questions, please contact the CFS* Financial Advisor located at 1st United Credit Union:


Rahil Machiwalla, Financial Advisor
CUSO Financial Services, L.P.
CA Insurance Number: 0G20361

(925) 598-4718
Rahil.Machiwalla@cusonet.com

 

Frequently Asked Questions

These and other frequently asked questions can be found at the American Funds website.

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