The EPC offers a 403(b)(9) Defined Contribution Retirement Plan to ministers and eligible employees. Similar to a 401(k), a 403(b)(9) provides for individual participant investment accounts that can be used to invest funds in three ways; employer, employee pre-tax, and employee post-tax (ROTH contributions) to be withdrawn during retirement.
Based on the Terms of Call for an EPC-ordained pastor, salary plus housing allowance is multiplied by no less than 10 percent, and that amount is contributed to a retirement account on their behalf. The plan allows for all eligible employees of the church to participate in the plan. The level of participation is determined by each individual church through the adoption agreement.
The Adoption Agreement helps the church determine how they will utilize the EPC’s retirement plan on behalf of its employees and ordained pastor’s retirement plan, either with monthly or quarterly contributions. The EPC 403(b)(9) retirement plan is preferable; however, churches may choose another investment option. Completed Adoption Agreements should be sent by mail, fax, or email to:
EPC Benefits Office
P.O. Box 6412
Plymouth, MI 48170
Fax: (734) 742-2034
A unique feature of a 403(b)(9) is that ordained ministers may allocate a portion of their retirement withdrawals to tax-exempt housing allowance, subject to IRS limits. When requesting your retirement withdrawal, please indicate to Fidelity you are a pastor.
RETIREMENT PLAN DOCUMENTS
FIDELITY INVESTMENTS OPTIONS
Visit www.netbenefits.com/EPC for more information on retirement and the Fidelity investment options available. To view the investment options, click on "Plan and Investments" and then "Investment Options." Target Retirement Date funds and Core Funds that are available in the EPC Plan, along with their performances, are listed. You also can speak with a Fidelity representative by calling Fidelity directly at (800) 343-0860.
INVESTMENT POLICY STATEMENT
Click here to download an outline of general investment policies as adopted by the Board of Benefits, effective January 2017. This document provides guidance to the investment advisory firm in determining and implementing investment decisions.
DEFINED RETIREMENT CONTRIBUTION PLAN
Click here to download the terms and conditions that apply with respect to assets held in the Code Section 403(b)(9) retirement income account program.
ADDRESS AND/OR CONTACT INFORMATION UPDATE FORM
Click here to download the form required to make any changes to your address or other contact information that we have on file.
403(b)(9) CHURCH RETIREMENT CONTRIBUTION FORM
Click here to download the Retirement Plan Contribution Form in Excel spreadsheet format. Please note that we do not invoice for retirement contributions.
EPC ADOPTION AGREEMENT
Click here to download the 403(b)(9) Adoption Agreement Form. All EPC churches are required to complete this document.
FIDELITY 403(b)(9) ACCOUNT APPLICATION AND BENEFICIARY FORM
Click here to complete your application online. Once you’ve completed your enrollment, print your confirmation page and submit this to your church administrator. Church Administrators: please contact Diane Pray at firstname.lastname@example.org when you have completed this process.
Click here to download the Fidelity 403(b)(9) Retirement Account Application Form. A complete form is required to open a new account. Note that this form is not a fillable pdf; it will need to be printed and filled out by hand and submitted to Diane Pray in the EPC Benefits office.
EMPLOYEE CONTRIBUTIONS SALARY REDUCTION AND/OR TERMINATION FORM
Click here to download the Salary Reduction Form for voluntary additional retirement contributions. This completed form is held by the church’s payroll office.
FIDELITY TRANSFER/ROLLOVER/EXCHANGE FORM
Click here to download the Transfer/Rollover/Exchange form for moving assets from another investment provider to an EPC-sponsored Fidelity retirement account. You can also use this form to consolidate multiple employer-sponsored retirement accounts currently held at Fidelity. Instructions for completing the form are included. Additional forms are available at www.netbenefits.com/EPC.
Information provided in this web site does not constitute legally binding advice. EPC benefits are subject to the provisions of the Wrap, Medical Plan and Retirement Plan documents available on this web site or in print from EPC Benefits, P.O. Box 6412, Plymouth, MI 48170. For more information, contact EPC Benefits at (734) 838-6942 or fax (734) 742-2034.
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