LCMC 403(b) Retirement Plan – Housing Allowance Distributions During Retirement
The IRS allows credentialed ministers to declare a housing allowance distribution from their 403(b)(9) Retirement Plan account in retirement.
This means that the portion of your distribution used for housing expenses is excludable from gross income for income tax purposes. This can provide significant tax savings during retirement.
The LCMC Retirement Plan is a 403(b)(9) Plan and specifically designed for LCMC churches with this provision for credentialed ministers.
To learn more, go to www.lcmc403b.com and click on "Plan Information", then scroll down and click on "Minister’s Housing Allowance".
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