The investment, which must be purchased before the minor's 16th birthday, matures on the minor's 18th birthday. The term begins with the date of purchase, and the interest rate is adjusted each January 1 and July 1. Interest is added to the principal on a quarterly basis. MissionPlus investments enable investors to add to or redeem funds from their investments at any time without penalty. Interest rates for MissionPlus are variable and are adjusted on January 1 and July 1 of each year.
Interest is reinvested monthly.
Each IRA option has the full complement of benefits provided for IRAs by the federal government. Send an e-mail to request a presentation packet with information about MIF investments.