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Ruling changes allowed IRA rollovers

Individuals with multiple individual retirement accounts, or IRAs, will have to be more careful now when moving money between their traditional IRAs. 

Starting as early as Jan. 1, 2015, anyone with an IRA will be allowed to make only one non-taxable rollover in a 12-month period to another or the same IRA, no matter how many IRAs a taxpayer has. 

The U.S. Tax Court made the new rollover ruling earlier this year, but the IRS is waiting until at least Jan. 1, 2015, to implement the ruling to give IRA owners and trustees time to adjust, according to an IRS announcement. The tax court ruling changes long-standing guidelines in the IRS Publication 590 that said a rollover from one IRA to another would not affect a rollover involving other IRAs of the same individual. 

The ruling doesn’t affect trustee-to-trustee transfers, as those transfers don’t count as a rollover because they don’t pass through a taxpayer’s hands. A rollover from a qualified retirement plan, such as a 401K plan, also doesn’t count.

Because the rollover ruling applies to a 12-month time period, and not any particular calendar year, taxpayers will have to be diligent when making rollover decisions, financial experts advise.

For more information about the new IRS guidelines on IRA rollovers, consult a tax professional or your accountant.

Current Openings

FT Indirect Loan Processor 1 - West

Our Main Branch at 8404 W. Kellogg Dr. M-F Hours are 8-5 and every third Saturday 9am-12pm. An Indirect Loan Processor 1 will process incoming dealer loan packages, set up new member accounts and file documents with appropriate agencies. Experience with loan processing is preferred.

Lawrence Mortgage Loan Officer Sales Rep

Our branch at 2901 Lakeview Road in Lawrence, Kansas. This Loan Officer is responsible for securing, processing and closing loans. Requirements are 2-5 years experience. This is mostly a commissioned based position. Usual hours are M-F 8-5pm and some Saturdays as needed. 

PT Teller 1 - South Branch

 Our branch at 31st and Meridian. M-F hours will vary from 7am-7pm and every Saturday from 8am-2pm. Averages 20 - 30 hours per week. Our tellers assist members with transactions while maintaining a balanced cash drawer and follow all security policies.

 

 

PT Teller 2 - Ark City

Our Ark City Branch at 1610 N. Summit. M-F Hours will vary, but must be able to work until 6pm on Fridays and every Saturday 8:15am-12:15pm. Averages 30 hours per week. Our tellers assist members with multiple transactions while maintaining a balanced cash drawer and follow all security policies.

PT Teller 2 - Northeast Branch

Our brand new building at 29th & Webb Road! M-F 2-7pm and every Saturday 8:45am-12:15pm. Approximately 30 hours per week. Our tellers assist members with transactions while maintaining a balanced cash drawer and follow all security policies.

 

What is Mid American Credit Union?

Since 1936, Mid American has been helping members with their finances.  Credit Unions were founded on the principle of "people helping people" and here at Mid American Credit Union, we follow this core belief every day. Our employees exemplify the core values of integrity while delivering world class service to our members. Come join our team, where we're working to make our community a positive place to live and prosper and where all of us are members and owners. We offer challenging work and room for growth and opportunity, with people who are the key to fulfilling our mission.

Why work at Mid American Credit Union?

"I love the family-like environment"

"People helping people resonates throughout the staff"

"I love the opportunity to help the members achieve their financial goals"

"I like that I can make a career at Mid American"

 

Mid American Credit Union8404 West Kellogg DriveWichita, KS 67209316.722.3921Fax 316.722.0920Privacy Policy