Churches
of God,
General Conference Pension Plan
Advantages of the Churches of God 403(b)(9) Pension for CGGC Churches and Organizations
The
In this plan, eligible participants enjoy a wide range of plan features and investment options. Additionally, the retirement plan offers the designation of some or all of a retired minister’s retirement benefit as a housing allowance, providing a significant tax advantage over traditional retirement plans.
Who Can Participate?
Ministers, office personnel, maintenance staff, musicians, church-school teachers, missionaries, university personnel and others who receive W-2 taxable income from a CGGC church or organization.
Types of Plan Contributions
- Participants can elect to have their employer withhold money from their paycheck that can be contributed as a tax-sheltered or after-tax contribution.
- Employers can make a tax-sheltered contribution on behalf of their employees.
Eligibility
- To be eligible for participant or employer contributions to the plan, persons must receive W-2 taxable income from their CGGC employer. Participants can be part-time, full-time or bi-vocational.
- 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.
- Tax-sheltered 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 70 ½ can be delayed if you are still working
Enroll now
- Call 1-419-424-1961 to request an enrollment application.
- Email Darlene your question: pensions@cggc.org