It is flexible to meet individual church needs. Use it to supplement current savings and improve retirement readiness. The plan will give your church the following:
- Investment options tailored for the needs and career stage of each participant
- Access to personal and confidential advisory services by licensed investment professionals who specialize in ministerial and church staff retirement planning
- Available housing allowance designation for qualified ministers, including the ability to roll over certain preexisting accounts that would not have this provision
- *All accounts 100% owned by the individual with no vesting schedule or other restrictions required by the plan sponsor
- Open and flexible with no fees to transfer funds in or out of the plan, no front or back “loads” (one-time charges) when investing or withdrawing funds, and no other significant restrictions except those which are imposed by the IRS to maintain the tax advantages of the plan
- Individual churches choose when and how much to match employees’ contributions
- Online portal for access to accounts as well as retirement planning tools, information about markets and trends, updates on taxes and IRS requirements, and much more
- Free templates and guidelines for long-term financial, legal, and estate planning. These tools enable you to customize and create a will, living will, power of attorney, and other important legal documents on your own.
*Employer contributions may be subject to a vesting schedule if the employer (your church) chooses that option. The plan itself imposes no vesting schedule or restrictions.
