We all know we need to save. Given the glut of retiring baby boomers, your Social Security benefits and MMBB annuity may not be enough to maintain your standard of living in retirement. Even small TAS contributions made over time could significantly increase your retirement income.

• Makes saving easy. You contribute through easy payroll deduction.
• Defers federal income taxes on your contributions until you begin receiving benefits in retirement. Also, TAS contributions are excluded from Social Security/Medicare taxes for ordained ministers. TAS benefits generally become taxable in the year(s) received. At retirement, you may be in a lower tax bracket and eligible for other tax benefits.
• Can build resources to help you move or purchase housing in retirement. If you are ordained, you may receive income as tax-exempt housing. The limit is the lesser of 1) the fair rental value of the furnished home, plus utilities, or 2) the actual housing expenses.
• May make a loan or withdrawal available to you before retirement.