IRAs

Individual Retirement Accounts (IRAs) help you accumulate assets for retirement and generate income after you've stopped working. There are two main types: traditional and Roth. Thrivent Financial for Lutherans offers both, and each provides different advantages and opportunities to help you prepare for retirement.

IRA Features: Comparison Chart
	Traditional IRA	Roth IRA
Who can contribute?	Anyone younger than age 70½ with earned income	Anyone of any age who meets income requirements¹
How much?²	Maximum annual contribution $5,000 (indexed) if under age 50, $6,000 (indexed) if age 50 or older, for 2010 and 2011.
Funds accepted from other plans:	Yes, from pension, profit sharing, 401(k), 403(b) and 457 plans, and other traditional IRAs as a transfer or rollover.	Yes, from traditional, SEP and SIMPLE IRAs as a conversion, qualified retirement plans as a qualified rollover contribution, Roth IRAs as a transfer, or Roth 403(b)s and Roth 401(k)s as a rollover
Tax considerations: Contributions	Contributions may be tax-deductible, within certain limits, and do have tax-deferred growth potential.	Contributions are not tax-deductible, but do have tax-deferred growth potential.
Tax considerations: Withdrawals	Earnings and tax-deductible contributions are taxed when withdrawn.	Qualified withdrawals of earnings are income tax-free.
Age for required distributions?	70½	None during owner's lifetime
Early access?	Yes; qualified distributions may be penalty tax free More about these provisions at the link below	Yes; qualified distributions may be both income tax and penalty tax free. More about these provisions at the link below
May be a good choice if ...	You want to reduce your current income tax burden in exchange for paying taxes when you take distributions.	You prefer to forgo the tax benefits now in exchange for tax-free income in retirement.
	More about Traditional IRAs	More about Roth IRAs

What Makes Thrivent Financial IRAs Different?

Diversification potential³ – A Thrivent Financial IRA provides a wide range of investment options. They range from conservative to aggressive, and represent all major asset categories of the markets.
Easy access – Morning, noon or night, you have 24-hour account access, online or by phone, for checking your account balances and, for mutual fund accounts, adjusting allocations and making additional contributions.
Guidance and service – Your Thrivent Financial representative takes you through the entire rollover process. He or she provides personalized guidance, including needs analysis, risk tolerance testing and asset allocation strategies, to help you work toward your retirement goals. You may also call our customer service professionals at 800-THRIVENT (800-847-4836) with questions and requests.

Take the Next Step

When you're ready to discuss your needs and explore how an IRA might support your retirement strategy, contact a Thrivent Financial representative.

Thrivent Financial for Lutherans, its affiliated companies, and their employees and representatives do not give legal, tax or accounting advice. The brief discussion of taxes on this site is not intended to be comprehensive and is subject to change at any time. Tax laws and regulations are complex and depend on individual circumstances. For complete details, consult your attorney, accountant and/or tax advisor.

Some states have not yet adopted the federal rules governing the tax treatment of Roth IRAs and there may be conflicts between federal and state tax treatment of IRA conversions. Consult your tax professional for your state's tax rules.

¹ Must earn a modified adjusted gross income (MAGI) of under $120,000 for 2010/$122,000 for 2011 (single), or $177,000 for 2010/$179,000 for 2011 (joint). If you are a married taxpayer who files separately, consult your tax advisor.

² Individuals that are age 50 and older by the end of the tax year can make a catch-up contribution of $1,000 in addition to the $5,000.

³ Diversification does not protect against market risk.

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