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Different Types Of IRA Accounts and Information

Green Century Funds can help you save for retirement without compromising your values.

As one of the first families of environmentally responsible and diversified fossil fuel free mutual funds in the U.S., Green Century Funds° has been a leader in environmentally and socially responsible investing for 30 years. The Green Century Funds neither invest in environmentally-dangerous companies nor industries, such as manufacturers of nuclear weapons, firearms, tobacco, and GMOs (genetically modified organisms), that do not align with the mission of our firm and the values of our investors.

Learn more about our sustainable investment strategy.

A sustainable investment strategy that incorporates environmental, social, and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

The deadline for making a 2023 IRA contribution is April 15, 2024. 

There are several different types of IRA accounts:

Traditional IRA

For 2023, you may contribute up to $6,500 into a Green Century Funds Traditional IRA.

If you are 50 years old or older, the contribution limit is $7,500 for 2023.

Individuals not covered by a retirement plan at work and people covered by a retirement plan who meet certain IRS income guidelines may be able to deduct their contributions from their taxable income each year.

When you retire, distributions from your IRA are generally taxed as ordinary income.

Roth IRA

For 2023, you may contribute up to $6,500 into a Green Century Funds Roth IRA.

If you are 50 years old or older, the contribution limit is $7,500 for 2023.

Roth IRAs differ from Traditional IRAs. With a Roth IRA, you cannot deduct your current year contributions from your taxable income. However, upon retirement, distributions from your Roth IRA are generally not taxed as ordinary income.  Learn more about what funds to invest with a Roth IRA, here.

IRA Transfers and 401(k) Rollovers*

If you have an IRA account at another financial institution that you would like to transfer to the Green Century Funds or if you have a 401(k) account with a past employer that you would like to rollover into a Green Century Funds IRA, please do one of the following:

SEP IRA Account

A Simplified Employee Pension (SEP) plan allows self-employed people and small business owners to establish SEP-IRAs for the business owner and any eligible employees.

SEP-IRAs have specific eligibility rules and contribution limits (as described on IRS Form 5305-SEP). Otherwise SEP-IRAs follow the same rules as Traditional IRAs.

If you are interested in opening a Green Century Funds SEP-IRA Account, you will also need to complete IRS Form 5305-SEP.

Green Century Funds charges a $20 annual recordkeeping fee to maintain an IRA. The $20 fee is charged per type of IRA (e.g., Roth, Traditional, SEP, etc.). If you have one type of IRA account invested in each Fund, there is only one $20 fee.

Please call 1-800-934-7336 or consult a tax professional if you have any questions regarding IRA accounts.

The IRS tax rules for IRAs are complicated. While we hope this summary of key characteristics is helpful, you may also want to refer to Green Century’s IRA Disclosure Statement (PDF) for more information and determine if a Green Century Fund IRA is right for you.

°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds).

You should carefully consider the Funds' investment objectives, risks, charges and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds, please click here for more information, email or call 1-800-934-7336. Please read the Prospectus carefully before investing.

*Prior to transferring or rolling over your account, consider your other options. You may be able to leave money in your current plan, withdraw cash or rollover the assets to a new employer’s plan if one is available and rollovers are permitted. Compare the differences in investment options, services, fees and expenses, withdrawal options, required minimum distributions, other plan features, and tax treatment. You should consult your own legal and tax professionals regarding your situation.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to risks including interest rate, credit, and inflation.

The Green Century Funds are distributed by UMB Distribution Services, LLC., 235 W Galena Street, Milwaukee, WI 53212.