Retirement Accounts earning 4%
Providence Association raises the Interest rates on all retirement products
We are excited to announce, that the interest rate on all annuities, IRA annuities, and Roth IRA annuities will increase to 4.0%.
Also all accounts opened after July 1, 2022, will also have a favorable 3.0% lifetime guaranteed minimum growth interest rate.
This increase is due to the tremendous support of all our members. In this regard, unlike other insurance companies, our savings products are governed by a “floating” or varying interest rate, that our executive board fixes, sets and resets from time-to-time.
All existing members with retirement accounts, will also receive the increased growth rate of 4.0%. Only the original guaranteed lifetime minimum will not change.
4%
GROWTH RATE
3%
guaranteed lifetime minimum
Contribution Limitations for IRA, Roth IRA or Simple IRA for year 2021 & 2022
You are encouraged to consult a tax advisor to determine how these changes may affect your financial portfolio.
Below is a summary of recent law changes, and an update of certain IRS limitations due to cost-of-living increases.
