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.
LCEF offers term notes with a maturity grace period. Should you need to make a change to the amount or length of the investment term, you have 20 calendar days after the maturity date to do so without incurring a penalty.
The IRA Dedicated Certificate is not available to investors in South Carolina.
For complete disclosure information, see the Offering Circular or request a copy by calling 800-843-5233. Fees (PDF) may be charged for customer-initiated service requests.
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.
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.
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.
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.
Term Notes issued or renewed prior to Oct. 1, 2012 are subject to a former penalty structure until the note reaches maturity.