The Brethren Church offers a participant-directed 403(b) retirement plan for pastors and employees working at least 1,000 hours per year. The plan allows both church and individual contributions to grow tax-free. When pastors retire, annual distributions up to $20,000 are allocated as housing allowance to the extent used to cover actual housing costs.
Recently the board employed Everence Financial as fund investment advisors and PenServ Plan Services for fund administration and record-keeping. These changes provide several enhancements:
- Education of participating pastors and staff
- Communication with new churches wanting to offer this benefit
- Better performing and lower cost mutual fund investment options
- Reminders to congregations about submitting contributions
- Ability to make employee contributions in addition to church contributions
Current Retirement Board Members
Ronald W. Waters, President (2020)
Ryan Gilmer, Vice President (2018)
Ken Hunn, Secretary (2019)
Our plan administrator in The Brethren Church National Office is Ronald W. Waters. Contact Ron with your questions and for information about joining the plan.
For tax assistance or questions, please contact your local tax professional.