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IRAs That Help You Retire with Confidence

Traditional IRAs

Retirement means something different to all of us. The one thing we all have in common, however, 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)  

The Thrivent Approach

Whether your goal is accumulation or distribution, Traditional IRAs with Thrivent Mutual Funds offer sophisticated yet simple solutions to diversify investments based on your risk tolerance. Choose from all-in-one investments or build your own allocations according to your specific objectives.

Traditional IRA Highlights

Contribution Limits
  • 2019: $6,000 total; $7,000 if you’re age 50 or older.  2020: $6,000 total; $7,000 if you’re age 50 or older.
  • Contribution limit applies to aggregate Traditional and Roth IRA contributions.
  • No age limit on contributions as long as you have earned income.

Deductions
  • Deductibility of your contributions 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 for further details

Thrivent Minimum Investment
  • $1,000 per mutual fund without recurring contributions, or
  • $50 monthly recurring contribution for all mutual funds except for the Thrivent Money Market Fund or Thrivent Limited Maturity Bond Fund which are $100 per month

Distributions
  • Must begin taking distributions from your traditional IRA in the year you turn age 72. However, if you turn 70½ in 2019, you must take required minimum distributions (RMDs) in 2019, 2020 and beyond.

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 IRA 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.
  • Semiannual low balance fee of $10 may apply for those accounts not maintaining minimum balance requirements.  See the Prospectus for more information.
  • Traditional IRA account closeout fee of $15
  • Other fees may apply for certain services and are redeemed directly from your account. Examples include overnight delivery or wire fees.  

Additional Documents

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Sophisticated Yet Simple Funds

From no-load, solution-based funds to practical, steady management and philosophies, our expertly crafted funds let you choose just what you need.

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