Ordained ministers can have their benefit from the Annuity Board designated as a tax-free housing allowance, within legal limits. State Baptist conventions make contributions to the Church Annuity Plan for eligible participants. The Annuity Board offers personalized retirement planning with computerized retirement forecasts. A Annuity Board retirement plans are treated for tax purposes as tax sheltered annuities and, therefore, can offer features and benefits unavailable with other investments. Contributions to a retirement account at the Annuity Board can be tax deferred or tax paid.
Money invested in mutual funds or other investments generally is considered taxable income.
While you may be able to deduct contributions to an IRA, limits on those contributions are usually much lower than limits on retirement plan contributions. You can receive a participant loan from a retirement plan with the interest you pay going back into your account. This is not available with all investment plans. A The Annuity Board charges no loads or sales commissions. All of your contributions go into your account.