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Pension Fund of the Christian Church

Employer-Sponsored Retirement Products

Overview

As a church plan, Pension Fund is able to offer flexible and worry-free retirement options for employers and their employees. Our team of Area Directors will meet with you to discuss your needs and help you get started.

Individual Savings & Retirement Products

Overview

Whether you’re just starting out or closer to retirement, choose from a variety of products to help you reach your retirement and savings goals.

Program Applicants

Ministerial Relief & Assistance

Our relief programs meet the evolving needs of new, active, and retired clergy and their families to ensure all ministers and lay workers can enjoy a strong, smart, secure retirement.

Supporters & Donors

Make An Impact with a Donation

Your gifts and financial support helps ministry workers in need bridge the unexpected from now until retirement (and beyond).

Resources

Overview

Discover planning and educational tools & resources to help you navigate your financial wellness journey.

For Members & Clergy

For Members

Guides, factsheets and resources to aid you on the Road to Financial Wellness.

For Clergy

Clergy-specific resources to support your call to ministry.

For Employers

For Employers

Hiring tip sheets, tax guides and more to help you manage your employees' benefits.

Your Money Line

Pension Fund has partnered with Pete the Planner® to provide members with access to financial guides who will help answer your tough financial questions & online tools such as calculators and eLearning courses.

Stay Connected

News & Publications

Events

The Gathering

Pension Fund's biennial conference that connects pastors to learn and discuss spiritual, health & financial wellness.

Employer-Sponsored Retirement Products

Overview

As a church plan, Pension Fund is able to offer flexible and worry-free retirement options for employers and their employees. Our team of Area Directors will meet with you to discuss your needs and help you get started.

Individual Savings & Retirement Products

Overview

Whether you’re just starting out or closer to retirement, choose from a variety of products to help you reach your retirement and savings goals.

Program Applicants

Ministerial Relief & Assistance

Our relief programs meet the evolving needs of new, active, and retired clergy and their families to ensure all ministers and lay workers can enjoy a strong, smart, secure retirement.

Supporters & Donors

Make An Impact with a Donation

Your gifts and financial support helps ministry workers in need bridge the unexpected from now until retirement (and beyond).

Resources

Overview

Discover planning and educational tools & resources to help you navigate your financial wellness journey.

Your Money Line

Pension Fund has partnered with Pete the Planner® to provide members with access to financial guides who will help answer your tough financial questions & online tools such as calculators and eLearning courses.

Is Tax Time the Right Time to Think About Retirement Savings?

Tax time is here and for many this presents an opportunity to assess if there are opportunities to reduce taxes. Let’s start with your retirement savings. If saving more for retirement is on your list of goals, right now is a particularly good time to put that thought into action.

And that’s because you can attribute any contribution you make to a Traditional IRA before April 15, to the 2020 tax year.

Put another way, when you complete your tax return for 2020, you may be able to deduct from your income a contribution made now, lowering the amount of taxes you owe.

Contribution Limits

This year, you can contribute a total of $12,000 to your Traditional IRA … $6,000 for tax year 2020 and another $6,000 for tax year 2021. (You can contribute up to $7,000 per year if you are at least 50 years old.)

Roth IRA

Let’s not forget our good friend the Roth IRA account! Contributions to a Roth account are not tax-deductible, but as with a Traditional IRA, you can make a contribution for 2020 right up to April 15 of this year. If you know that your income tax bracket will be higher in retirement, or you simply want to hedge against that possibility, diversifying your retirement savings to include funds that you can withdraw tax-free makes sense. (The rules about contributing to an IRA are available on the IRS website here.)

Whether Traditional or Roth, using your IRA for your retirement savings is a smart move. Consider this simple example: If you are in the 24% tax bracket and invest $6,000 annually for 20 years (assuming a 6% rate of return), your ending balance will be more than $31,000 higher if you do so within an IRA account, rather than a taxable account.

Balancing competing priorities can be a challenging personal finance decision. Saving more for retirement is a commitment that you must make within the context of other financial goals. Determining how much you need to save for the future that you envision can also be quite tricky. To your benefit, Your Money Line, a free resource to Pension Fund members, has experts on-hand to help you explore your options and assist you in creating a plan to meet our objectives.

Pension Fund members can log in to the Your Money Line dashboard or create a free Your Money Line account at www.yourmoneyline.com/pensionfund