A member's Social Security and Retirement Plan annuity may not be enough to assure the same standard of living in retirement. Even small contributions to The Annuity Supplement (TAS) made over a long period of time may significantly increase retirement income. Contributions can be as little as $10 a month. MMBB will calculate the maximum amount the Internal Revenue Service (IRS) will allow members to contribute each year. Here are some of the advantages of TAS:

• It is a convenient way to save. Members can arrange a salary diversion with their employers so that their contributions are remitted by their employers monthly, along with other MMBB premium payments.
  
  
• Members do not pay federal income taxes on contributions until they begin receiving payments in retirement. Also, contributions are excluded from Social Security/Medicare taxes for ordained ministers. At retirement, members may be in a lower tax bracket and may be eligible for other tax benefits.
  
  
• TAS accounts can be helpful for moving expenses or housing in retirement. Generally, they will be taxable as income in the year in which payments are received. However, clergy may receive income payments as a tax-exempt housing allowance.
  
  
• Loans and withdrawals from TAS accounts may be available before retirement to eligible members.