Managing the added expenses involved with reopening your church
IRS Ruling 75-22 allows denominational pension boards such as MMBB to designate a housing allowance for retired ministers receiving income from their 403(b) retirement accounts.
If you answered “yes” to ALL FIVE questions, you may qualify to receive a retired minister’s housing allowance from the IRS.
Please contact one of our Senior Benefits Specialists at 1.800.986-6222 for additional information.
*The IRS defines official retirement as willful termination of employment with no intent to seek a new job after the age of 55. Regulation If you plan to retire before the minimum age of 59-1/2, you can make withdrawals from your retirement accounts only under specific conditions without paying a mandatory 10 percent penalty.
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