If you know the difference between a 401(k) and a 403(b) . . . if you know the difference between an IRA and a DBP . . . if you know how much your church contributes to employee retirement—then stop reading this article.
Oh, look! Everyone is still reading.
As soon as the subject turns to ministry retirement plans, two facts leap out: churches don’t understand the complicated issues, and they aren’t taking action. . . .
7 Smart Reasons to Start a GARBC Retirement Plan
The GARBC Retirement Plan is available to pastors, ministry staff, and other employees of GARBC churches, as well as employees of Christian schools affiliated with GARBC churches.
√ Simple. The plan works with automatic payroll deductions and optional matching church contributions.
√ Safe. The 403(b)(9) church retirement plan complies with all IRS rules for ministers.
√ Deductible. You gain immediate deductions for federal income tax.
√ Portable. Your plan stays in place if you transition to another ministry.
√ Flexible. You have twenty-six investment options tailored to your specific needs.
√ Thrifty. Program fees are half of the industry average, with no surprises and no transfer fees.
√ Secure. The GARBC partners with Servant Solutions, a nonprofit financial ministry for seventy years.
- You have reached the end of this article preview. This article was published in the Fall 2023 Baptist Bulletin. Subscribe to the Baptist Bulletin or purchase a gift subscription. If you already subscribe to the print edition, sign up for free digital access.
Kevin Mungons is the backlist curator for Moody Publishers.
