To: Individual Christian Reformed Church Leadership
From: CRC Retirement Income Plan provider, Envoy Financial,
Subject: No Cost to set up Retirement Income Plan for Commissioned and licensed staff plus support staff
Copy: U.S. Pension Trustees, John Bolt, and Margie Csomer
Date: April 20, 2022
It is essential for your church leadership to be aware and take appropriate action regarding the new retirement plan available.
This plan is both flexible and easy to administer in a continued effort to support your ministers and staff. The only decisions needed are:
Choose to participate (see instructions at the end of this letter).
Decide who will be eligible, what contribution the church will make, and when you will start.
Be in touch with our Plan Design support staff for any questions: Will Randall or Tim Struck at (888) 879-1376.
Retirement plan for CRC commissioned pastors and all organized churches
Many church leaders have requested an easy to administer and church-specific retirement plan for church staff and commissioned pastors. There have also been requests by ministers of the Word to have other options while being part of the Ministers' Pension Plan.
Recently made available is the CRC Retirement Income Plan (CRCNA.org/retirement):
The Retirement Income Plan is easy for a church to implement and enhance every participant's Future Funded Ministry. The church can contribute to the plan, each eligible participant can contribute to the plan, and they can be combined to work together. Each church has a responsibility to support its staff, and enrolling in the Retirement Income Plan is one important way to fulfill that ongoing responsibility.
Highlights of the Plan:
There is no cost to the church to join as the denomination pays the $100 startup cost.
Within the legal parameters, the church leadership decides who is eligible for the plan and how much, if any, the church will contribute to it.
For those who are ordained or commissioned, contributions to the plan will save state, federal, and, where applicable, SECA taxes. As a reminder, Ministers of the Word must also remain in the Ministers' Pension Plan. Contributions to this new plan will serve to enhance the financial retirement of your staff.
The investment options available in the plan are chosen from the top-performing mutual funds available. They are also monitored and replaced with better-performing funds as appropriate.
There are top-performing and Biblically Responsible funds on the menu, which allows your staff to match their investments with their values, an important distinction of the plan.
Those who are ordained or commissioned will be able to withdraw funds and take retirement distributions from the plan as part of their Housing Allowance after retirement. This is a powerful benefit only available from church pension plans and 403(b)(9) church plans such as this one.
There are Faith-driven advisors available to help your staff decide on their investment selections and help you plan God's preferred future for their families.
If funds remain in their account upon death, the proceeds will go to their family or as they have directed.
Key benefits for the church as well:
Fulfills the responsibility to care for those working for and in the church.
Allows those workers with years of service to retire with dignity and the freedom for ongoing service.
Protects the church from the "off-balance sheet moral liability" experienced by those churches who do not provide an avenue of preparation for each staff member.
Indicates to the staff that the church family cares for their family and understands the financial realities of retirement potentially lasting as long as 30 years.
Next steps for churches:
Click here to discover more details about the plan.
Click here to start a plan.
Answer the questions posed as you move through the investigating process.
Access our Retirement Plan Consulting specialists for answers to any questions.
Sign the Memorandum of Understanding and be guided by our On-Boarding team each step of the way.
We are reminded of Ephesians 4:16: "From him the whole body, joined together by every supporting ligament, grows, and builds itself up in love, as each part does its work."
Envoy Financial is blessed to implement and administer this plan on behalf of the CRC U.S. Pension Trustees. We will do our very best to make sure your participation brings an enhanced meaning of stewardship to every participant.
In His Name and for His Kingdom,
Bruce Bruinsma
CEO, Envoy Financial