Compare Clergy Retirement Plans

 
Traditional IRA
Contributions are sometimes income-tax deductible
Earnings are tax-deferred
Distributions are generally taxable
 
Typical federal tax savings on $4000 of contributions:
$600, but only if you’re eligible to deduct the contributions
Tax treatment of distributions after age 59½:
Taxable
Annual contribution limit:
$6,000 ($7,000 if over age 50)
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Roth IRA
Distributions are generally not taxable after age 59½
Contributions can be withdrawn any time without tax or IRS penalty
Earnings can be withdrawn tax-free after age 59½
 
Typical federal tax savings on $4000 of contributions:
$0
Tax treatment of distributions after age 59½:
Non-taxable
Annual contribution limit:
$6,000 ($7,000 if over age 50)
Schedule a Free Consultation
 
Standard 403(b)
Contributions avoid income tax
Earnings are tax-deferred
Avoids Social Security tax for clergy but not for lay workers
 
Typical federal tax savings on $4000 of contributions:
$1200 for clergy, $600 for other workers
Tax treatment of distributions after age 59½:
Taxable
Annual contribution limit:
$20,500 ($27,000 if over age 50) in addition to employer contributions
Schedule a Free Consultation
 
Clergy Advantage 403(b)
Contributions avoid income tax
Earnings are tax-deferred
Avoids Social Security tax for clergy but not for lay workers
Up to 100% of proceeds can be tax-free housing allowance even before retirement
Typical federal tax savings on $4000 of contributions:
$1200 for clergy, $600 for other workers
Tax treatment of distributions after age 59½:
For clergy, up to 100% of distributions can be tax-free housing
Annual contribution limit:
$20,500 ($27,000 if over age 50) in addition to employer contributions
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THE CLERGY ADVANTAGE 403(B) RETIREMENT PLAN IS UNIQUE BECAUSE YOUR BENEFITS ARE

Retirement benefits and options are so different for ministers. You need a clergy retirement plan that allows you to save state, federal and Social Security tax on contributions, grow the money tax-free and then provide tax-free distributions through your housing allowance. And that’s only the beginning with qualified clergy specialists in your corner.

Why Ministers Should Never Use Traditional Retirement Solutions
Why A Traditional IRA is Wrong for Ministers
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CLERGY ADVANTAGE 403(B) PLAN FEATURES

  • Guaranteed Interest & Structured Investment Options
  • A Roth Option
  • Extremely Low Fees or No Fees in some cases
  • World Class Money Managers
  • Over 100 funds with sector control to personalize your investment
  • Reduced Administration costs. Administration of the plan is the responsibility of the plan sponsor not your church, further reducing costs and hassles.
  • Educational Resources & Personal Coaching to make the most of opportunities. Discover the right clergy strategies  to help you achieve financial independence.

THE CLERGY ADVANTAGE 403(B) IS PORTABLE

Portability means keeping your Housing Allowance distributions for Life.  The Clergy Advantage 403(b) Retirement Plan allows a minister to remain in the plan and keep housing allowance distributions even if you separate service, take another position or leave ministry altogether. That’s pretty good news, but that’s not all.

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Clergy Advantage®
2093 East 11th Street, Suite 200
Loveland, CO 80537
p (970) 667-5819
f (970) 663-4950
clergy@clergyadvantage.com

© Copyright 2023 Clergy Advantage | All rights reserved.
© Copyright 2023 Clergy Advantage | All rights reserved.

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