Denominational Retirement Plan Highlights:
A 403(b) plan (which has lower costs than a 401(k)) and has significant benefits for pastors and ordained/licensed ministry personnel - now and in retirement
The new Roth provision, which allows for after-tax contributions, tax-free growth, and tax-free withdrawals in retirement
Annual 1099 reporting for Minister's Housing Allowance and the ability to receive retirement distributions as part of Housing Allowance during retirement
A menu of 20 preliminary no-load mutual funds to pick from, and access to over 1,600 no-load mutual funds from the largest fund families, including: AIM, Alliance Bernstein, American Funds, Calvert, Federated, Fidelity, Franklin, Goldman Sachs, JP Morgan, Oppenheimer, Putnam, Russell, Strategic Partners, Sun America, T Rowe Price, Templeton, and Van Kampen
An administrative fee structure that will benefit each individual plan participant because fees are based on the aggregate of all the assets of all participating CCCC member churches
Denominational Retirement Plan Services:
Professional asset management (Advisory Services) for participants who want a professional to actively manage their investments
Retirement plan design flexibility that allows each CCCC member church to create a plan that suits the needs and finances of the specific church
Individual telephone enrollement and planning appointements for each plan participant with a licensed financial planner
A CCCC retirement plan web page with general plan information, enrollment presentations, investment information, and ways to contact Envoy Financial for member churches to help newly eligible plan participants easily enroll in the retirement plan
24/7 online account access for all plan participants
Envoy Financial Highlights:
Exclisively Serving Christian ministries in the areas of group benefits and retirement plans since 1989
Currently serves over 650 ministries and 7000 ministry employees in 48 states and 60 foreign countries
Ministry slogan, Trusted Advice Along the Way, demonstrates their commitment to providing assistance and guidance to Christians seeking biblically-based tools and guidance for their financial stewardship
Located in Colorado Springs, CO, providing all their services to ministry employees and ministry leadership from one central location
All staff, including financial planners, are salaried, not on commission, providing advice and service that is in the best interest of the investor
All investment and administrative documents are provided to investors pre-filled and sent by password-protected email for efficiency, security and convenience
Each church will implement their own plan, but the annual asset management fees charged to each member are based upon the aggregate value of the assets of all the churches participating in the plan.
Each church will be able to implement a plan that suits the needs, staff and finances of their church. Individual churches can determine whether the church will make contributions on behalf of some or all church employees.
The design of the plan allows the participating member churches to take advantage of a declining fee structure while having access to no-load mutual funds.
To access the CCCC Retirement Plan web page, click this link: www.envoyfinancial.org/245809.ihtml
And the enter the following:
Username - CCCC
Password - CCCCPP884
(If the page does not automatically appear, hold your mouse over the Individual Investors tab, then over the Plan Information Page menu item, and finally click on CCCC Plan Information.)
Here are the next steps to take after accessing the page:
Envoy Financial will provide a checklist of the process and send you all the documents you need to establish a plan for your church.
Envoy Financial will schedule one-on-one enrollment appointments with a LifeStage Specialist (financial planner) for each eligible staff member.
Jeff Gater of Envoy Financial is available to answer any questions you may have. He may be reached at (888) 879-1376, ext. 209, or by email at jgater@envoyfinancial.org.
