403(b)(9) Retirement Plan
What is a 403(b)(9)?
Great Question! These are retirement plans are defined contribution plans designed for the specific needs of churches or those with 501(c)(3) church or non-profit status.
403(b)(9) plans allow:
1. Employee Contributions (i.e. Deferrals)
2. Employer Contributions / (e.g. "Match" or Discretionary)
3. Potential for tax-free growth
These plans are similar to 401(k) plans because:
1. Participants chose deferral amounts
2. Participant selects investments (from menu)
3. Fully portable upon separation from service or retirement age
Fees:
Annual Administrative Fee - $500*
Annual Per Participant Fee - $55**
*One time, $950 setup/adoption fee
** Other transaction based fees and advisory fees may apply
Thanks for making it this far! This resource page dives deeper into specifics regarding the Church of Christ 403(b)(9) Plan.
Watch a video interview featuring Dudley Chancey and the Plan's Investment Advisor, Andrew Cooper.
Why offer a 403(b)(9)?
- Attract & retain talent
- Low-cost benefit
- Save easily
TVM Assumptions:
- $50k salary
- 3% match, 3% deferral
- 7% rate of return
What Is PENSERVE?
National Pension Consulting Firm
PENSERVE provides a relationship team to serve your administrative needs.
The Relationship Team Breakdown:
- Payroll Processing Group
- Distribution Processing
- Trading & Cash Management
- Customer Service Group
- Industry & IRS Expertise
How does PENSERVE serve you?
There are two ways you can connect with service teams.
Dedicated Customer Service Representatives
- Customer service team with multilingual support
Voice Response Unit
- 24/7/365 access
