Did you know that Texas District Church Extension Fund (Texas CEF) offers a great way to help investors reach their savings goals for retirement?
Through IRAs, also known as an Individual Retirement Arrangement, individuals can save for retirement with tax-free or tax-deferred growth in their savings.
Texas CEF wants to be your savings place for IRAs!
IRAs are one of the many options individuals have to save money and be part of Texas CEF ‘s mission to be the preferred financial partner with ministries focused on multiplying followers of Jesus.
We are proud to offer the following IRA products and services:
Traditional IRAs
Traditional IRAs help you to save for your retirement by allowing the earnings to grow tax deferred. Contributions may also be tax-deductible if you meet certain conditions. Distributions from the IRA are generally taxable at the time of withdrawal.
Roth IRAs
Roth IRAs’ advantage to saving for retirement is tax-free distributions if certain conditions are met. You must have earned income to open a Roth IRA. Contributions are not tax-deductible.
ESA (Coverdell Educational IRAs)
A Coverdell Education IRA can be used to make annual non-deductible contributions on behalf of a child under the age of 18. The earnings will remain tax-deferred while in the ESA. When the child uses the ESA to pay for qualified education expenses, the contributions and earnings are distributed tax free.
SEP (Simplified Employee Pension Plan)
A SEP Plan allows employers to contribute to traditional (SEP-IRAs) set up for employees. A business of any size, even self-employed can establish a SEP.
Simple Plans
Savings Incentive Match Plan for Employees (SIMPLE) allows employees and employers to contribute to traditional IRAs set up for employees. It is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan.
As always, Texas CEF encourages you to consult with your tax advisor before April 15.
For more information, visit our website at texascef.org/iras. You can also call one of our Investors Services Representatives at 888-951-1233 for more information.
