Retirement Savings Plan
By offering the Retirement Savings Plan of the Presbyterian Church (U.S.A.), you can help employees improve their financial readiness for retirement through tax-advantaged savings.
Flexibility and convenience with lower fees
The Retirement Savings Plan of the Presbyterian Church (U.S.A.) is a unique, national, qualified
403(b)(9) defined contribution church plan offered by the Board of Pensions through the Benefits Plan of the PC(USA). The plan is an affordable, convenient way for employees to build savings for retirement. For employers, the plan is designed to reduce your organization's costs and fiduciary responsibilities and ease your administrative load.
A partnership based on shared values
The Retirement Savings Plan is offered through Fidelity Investments — a nationally recognized industry leader with a proven track record — to offer this superior retirement savings vehicle. Our offering through Fidelity is based on our shared values:
- committed to serving those who serve others
- dedicated to education and service that support a values-based plan design
- supportive of your unique workforce through a variety of fund options
- enabling dignity and security in retirement
Your challenges, our solutions
We understand your challenges and have designed the Retirement Savings Plan to meet your goals.
| Do you want to ... ? | The Retirement Savings Plan offers ... |
|---|---|
| Reduce costs for you and your employees | Low fees for participants and no fees for you as the employer* |
| Ease your administrative load and fiduciary responsibilities | Reduced administrative and fiduciary responsibilities including exemption from providing Form 5500 and audit requirements |
| Provide your employees with access to educational opportunities to better understand and make decisions about saving for retirement | Access to expert educational resources and advice to promote and support plan participation and engagement |
| Offer a competitive plan that helps attract and retain employees | Help employees with building long-term savings, tax advantages, convenience of per-pay deductions, and range of investment options |
| Work with a reputable organization that shares your values | A proven partner that understands and shares your values |
*Fidelity may charge a fee for nondiscrimination and/or compliance testing, if needed.
Eligibility
You may offer the Retirement Savings Plan to any employee, regardless of the number of hours they work per week. Members working in post-retirement service are eligible to participate.
Employers are required to offer the plan to congregational pastoral leaders enrolled in the Congregational Pastors Package and those enrolled in Transitional Pastor's Participation.
You may choose to offer the plan to employees enrolled in Covenant Package and to any other employee.
Key plan features
The Retirement Savings Plan is designed to meet both your needs and the needs of your employees. It provides a variety of features that distinguish it from other commercial plans.
Why the plan is a good fit for you
- Turnkey design
- Fiduciary risk management
- Key decisions in your hands
- Expertly curated investment portfolio
- Compliance support and guidance
- Dedicated customer service and communications
- Assistance from Fidelity with compliance testing, if necessary
Why the plan is a good fit for your employees
- Market-leading plan features, including pretax and after-tax Roth contributions; managed accounts, an optional, fee-based service to plan participants who would like an investment strategy tailored to their specific situation; and loans
- Auto enroll and auto increase (if elected by the employer)
- Investment fund options that span the risk spectrum
- Expert education and advice from Fidelity representatives
- Easy-to-use mobile and online tools for account management
- Dedicated customer service
Questions about the Retirement Savings Plan?
Employers who currently offer benefits through the Board of Pensions can call 800-PRESPLAN (800-773-7752) (TTY: 711) to speak with an Employer Services representative. They can answer questions about benefits and offer support on administering benefits through Benefits Connect.
PC(USA) employers and congregations are encouraged to reach out to their
Church Consultant to help determine which dues package is right for their situation, understand available benefits for staff and how to structure them, and guide faithful benefits decision‑making.