INVESTMENTS Retirement Accounts When you invest your retirement funds in an Individual Retirement Account (IRA) with LCEF, you know exactly where your money is and that it’s being used to support LCMS ministries across the country.

LCEF offers a Traditional IRA, Roth IRA and Coverdell Education Savings Account.

Types of Retirement Accounts

Traditional IRA

Contributions are made pre-tax. Unlike retirement plans that require you to work a certain number of years before the funds are yours, a Traditional IRA is 100% yours from the beginning. You may make withdrawals at any time. Note that withdrawals before age 59½ are currently subject to a 10% IRS penalty.

Roth IRA

This investment grows tax-free. Under certain situations, distributions are tax-free after five years. Contribution limits depend on your income and other IRA investments made during the year. Minimum distributions are not required at age 70½.

Coverdell Education Savings Account

Distributions from this IRA are tax-free for qualified elementary, secondary or higher education costs, which can include tuition, computer equipment, room and board and more—including those for Lutheran schools.

Need to know more about retirement accounts? Visit our IRA Service Center to learn more.

Consulting Your Tax Advisor

Neither LCEF nor its representatives give legal, accounting or tax advice. We always suggest that you consult with your tax advisor regarding the applicability of this information to your own situation. For assistance in completing the necessary forms or if you have any questions, please call 800-843-5233.

UMB Bank n.a. serves as the custodian of the LCEF IRA/HSA.