Individual Retirement Accounts

When you invest your retirement funds with CFR, you know where your money is and how it’s being used.

Your growing nest egg helps to fund ministry projects and change lives. An IRA is a personal savings plan that provides income tax advantages to individuals saving for retirement purposes.

IRAs with CFR can be invested in a Ready Access Certificate or Time Certificate. CFR currently offers both Traditional and Roth IRAs. Ready Access IRAs and IRA Certificates require a minimum initial investment of $20,000.

Featured
Traditional IRA

Earnings grow tax-deferred

Contributions may be tax deductible

Maximum contribution of $7,000 per year

A catch-up contribution of an additional $1,000 per year for persons age 50 and up

Mandatory distributions starting at age 73

Distributions before age 59½ are subject to penalty tax unless you have an early distribution exception

Can transfer any qualified retirement plan directly into a Traditional IRA without owing taxes or penalties

Roth IRA

Earnings grow tax-deferred

Contributions may be tax deductible

Maximum contribution of $7,000 per year

A catch-up contribution of an additional $1,000 per year for persons age 50 and up

Generally, contributions can be withdrawn at any time tax-free

Distributions not required during the lifetime of the Roth IRA original owner

Individual Retirement Accounts

When you invest your retirement funds with CFR, you know where your money is and how it’s being used.

Your growing nest egg helps to fund ministry projects and change lives. An IRA is a personal savings plan that provides income tax advantages to individuals saving for retirement purposes.

IRAs with CFR can be invested in a Ready Access Certificate or Time Certificate. CFR currently offers both Traditional and Roth IRAs. Ready Access IRAs and IRA Certificates require a minimum initial investment of $20,000.

Featured
Traditional IRA

Earnings grow tax-deferred

Contributions may be tax deductible

Maximum contribution of $7,000 per year

A catch-up contribution of an additional $1,000 per year for persons age 50 and up

Mandatory distributions starting at age 73

Distributions before age 59½ are subject to penalty tax unless you have an early distribution exception

Can transfer any qualified retirement plan directly into a Traditional IRA without owing taxes or penalties

Roth IRA

Earnings grow tax-deferred

Contributions may be tax deductible

Maximum contribution of $7,000 per year

A catch-up contribution of an additional $1,000 per year for persons age 50 and up

Generally, contributions can be withdrawn at any time tax-free

Distributions not required during the lifetime of the Roth IRA original owner