Annuities & IRAs

• Financial stability:  Historically, our rates have remained steady at application rate (and have even gone up).  You can feel confident that no matter the economic situation, your retirement savings is guaranteed to earn no less than a minimum of 3.00% APY each year.
  
• Fraternal Benefit Package gives our members ultimate flexibility to their money.  This (free) benefit  waives the declining penalty (surrender charge) in case of serious illness, nursing home confinement, or other catastrophic event.  In addition, CLC will waive these surrender charges for significant medical expenditures for both annuitant and spouse.
  
• 100% of your money earns interest
  
• No sales charges, no service fees, no yearly maintenance fees
  
• No start-up fees, no membership fees, no back-end loads
  
• CLC allows for 10% annual penalty-free withdrawal by contract + 5% Fraternal Benefit after the 1st year for a total of 15% per contract year (many companies only offer between 

                    5-10%)

• CLC offers only Fixed Deferred Annuities.  The funds may be non-qualified (ex: bank CD) or qualified (ex:Traditional IRA, SEP, transfers in from 401K or 403B).  CLC also offers Roth IRAs (tax exempt). With CLC you are allowed additional premium making it a flexible premium contract.
  

• may be tax deductible in the year purchased
• each spouse may contribute $6,000 per tax year to their own individual retirement account (IRA) ($7,000 for those 50 and older)
• minimum distributions begin at age 70 1/2
  

• each spouse may contribute $6,000 per tax year to their own Roth IRA plan ($7,000 for those 50 and older)
  
• working individuals may contribute beyond age 70 ½ with no age or minimum distribution requirements