RETIREMENT ACCOUNTS

Traditional IRAs

Retirement means something different to all of us. The one thing we all have in common is wanting to ensure we’ve saved enough to live comfortably. Thrivent Mutual Funds offers Traditional IRAs, which are potentially tax-deductible ways to contribute to your retirement savings. Learn about the features, rules, and limits of Traditional IRAs here.

Traditional IRAs are a great choice for people who:

Have earned income.
Want to defer taxes until retirement.
Expect to be in a lower tax bracket in retirement.
Would benefit from a potential immediate federal income tax deduction.
Don’t think they’ll need to take any money out of the account until retirement (after age 59½).

Traditional IRA highlights

Contribution limits

2024: $7,000 total; $8,000 if you are age 50 or older.
2025: $7,000 total; $8,000 if you are age 50 or older.
Contribution limit applies to aggregate Traditional and Roth IRA contributions.
No age limit on contributions if you have earned income.

Deductions

Deductibility of your contribution is subject to Modified Adjusted Gross Income (MAGI) limits and you or your spouse’s status as an active participant in an employer retirement plan.
See IRS contributions and deduction limits or IRS Publication 590-A for further details.

Thrivent minimum investment

$1,000 per mutual fund without recurring contributions, or
$50 monthly recurring contribution for all mutual funds.

Distributions

Must begin taking distributions from your Traditional IRA in the year you turn age 73 or 75 if born in 1960 or later.

Withdrawals

Penalty-free after age 59½ and taxed as current income.
10% penalty may apply before age 59½ unless there is an exception.

Thrivent Mutual Funds fees

Annual Retirement custodial fee is $15 per shareholder (Traditional, SEP and Roth IRAs combined). Fee may be waived if you have $50,000 or more invested in Thrivent mutual funds. Fees are also waived for shareholders that have an automatic purchase plan for $3,000 or more annually into their Traditional or Roth IRA accounts.
Retirement account closeout fee of $15 may apply if all accounts in that retirement plan fee group are closed prior to the annual fee occurring.
Semiannual low balance fee of $10 may apply for those accounts not maintaining minimum balance requirements. See the Prospectus for more information.
Other fees may apply for certain services and are redeemed directly from your account. Examples include overnight delivery or wire fees.