Retirement Planning for Nonprofit Ministries
Why should you save your retirement dollars with Servant Solutions?
Ministers receiving retirement income from the Servant Solutions Retirement Plan are not taxed on the portion designated to be their housing allowance. That is a huge benefit! Ministers can contribute to the Plan with pretax dollars, and then they can receive distributions in retirement without paying tax, too. The dollars go in and come out tax free!
We provide exceptional value to our members at a very low cost. For more information on our low fees, check out our investment costs.
Our investment lineup is diversified. It offers investment solutions for both novice and sophisticated investors.
Finally, we support our members by answering their questions quickly and personally. In addition, we provide free financial planning guidance to all our members.
Don’t hesitate to contact us with any questions.
“During my 44 year career as an educator, I have had the opportunity to interface with four different 403b/IRA providers. Two were well known vendors, particularly in the academic arena, and the third a large company catering predominately to a large denomination, and lastly with Servant Solutions. While none of these were by any means negative, I can say unequivocally that Servant Solutions has been the best partnership of the four. My school has experienced great personal service, to the degree that I have encouraged our board to increase the organization’s contribution percentage in an effort to increase employee participation as well, because of the confidence we have in Servant Solutions.””
Frequently Asked Questions About the Servant Solutions Retirement Plan:
What Type of Plan Is It?
A 403(b)(9) Church Plan is a defined contribution plan specifically designed for the unique needs of churches, Christian colleges and universities, and ministry organizations.
Who can participate?
Employees from all ministry organizations listed above are eligible to participate, unless the employer specifically excludes them.
What type of investments?
Lifefunds – Age based mutual funds designed with appropriate level of risk
Mutual Funds – For those who watch the market closely, a selection of individual mutual funds
Fixed Income Option – Out of market option with a stated rate of return
Types of Contributions?
Employees can elect to have their employer withhold money from their paycheck that can be contributed as a pre-tax or after-tax contribution. We also offer a Roth feature for after-tax contributions.
Employers can make a pre-tax contribution on behalf of their employees.
Advantages?
Non-Profit organizations can begin offering our plan to employees at no charge
No minimum contribution required for employees to open account
No minimum contribution amount required monthly
Excellent service – including FREE financial education and opportunities for consultation with a Financial Planning professional
Wide-range of investment choices
Retired ministers may have retirement benefits designated as a tax-free housing allowance, within legal limits.
Employer contributions are not subject to Social Security tax and income tax at the time of contribution.
Pre-tax participant contributions by ministers are not subject to Social Security tax.
Rollovers from other eligible retirement plans or Traditional IRAs are possible without tax consequence.
Contributions, earnings on all contributions and rollovers are tax-deferred.
Flexible distribution options
Required distributions at age 73 can be delayed if you are still working.
Employees have the opportunity to save for retirement with pre-tax, after-tax, and/or Roth contributions.
How to enroll
Ready to enroll your organization? Start here to begin the process and access the enrollment checklist.
If your employer is already enrolled with Servant Solutions and you’re ready to start a retirement account with us, you can access those details and next steps right here.
Questions?
Need help? Email anytime or call us at (800) 844-8983 with any questions!
Serving those who serve has been the heart of Servant Solutions since our inception in 1949 — which is why we would be honored to serve you. As experts in retirement plans for nonprofit organizations, we have walked alongside many ministries by partnering with their employees on the journey to and through retirement.
We understand the unique needs you face and can create a competitive, personalized plan to help your employees move toward retirement with confidence. In fact, we designed our in-depth educational program, plan management tools and client service team with you in mind.
Servant Solutions is a nonprofit endorsed agency of the Church of God (Anderson, IN). Are you clergy, a missionary, a self-employed minister, or a lay worker (teacher, administrative assistant, etc.) who is receiving compensation? Is your employer a Church of God congregation, agency, organization, or institution? Then you are eligible to participate in the Servant Solutions Retirement Plan.
If your employer is not affiliated with the Church of God, you might still be eligible to participate. How? If your employer is a church or a non-profit organization that shares common religious bonds and convictions with the Church of God, we would love to serve you, too. We currently serve six other denominations, including the Church of God by Faith and the General Association of Regular Baptist Churches. We also serve many Youth for Christ chapters and Independent Christian Churches. Please contact us to see if your employer is eligible to participate!