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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

Pension Fund Insider Update

Connect with your Area Director and learn more about how Pension Fund can partner with you to create financial stability in an increasingly uncertain economy.

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.

Benefit Accumulation Account

Baby walking

A better way to save for all scenarios (and accessible when you need it for whatever life brings).

Our Benefit Accumulation Account (BAA) is an after-tax high yield savings product that allows our members to proactively save (and earn interest) for all kinds of expected—and unexpected—life expenses. Unlike with 401(k)s, IRAs and other savings options that charge hefty fees, BAA funds are easily accessed at any time without penalties or fees. Whether you’d like a financial cushion for emergencies, health care, college expenses or retirement, we have you covered.

About the Benefit Accumulation Account

To view this video in Spanish, click here.

Who is eligible for the Benefit Accumulation Account (BAA)?

You may open a BAA if you are a Member, an IRA Owner, a Spouse, or a Surviving Spouse who is the Member's beneficiary under the Pension Plan or TDRA. You must be a U.S. resident to open a BAA.

Why the Benefit Accumulation Account?

Advantages:

  • Financial security of additional savings for unexpected life expenses (above and beyond traditional retirement savings accounts).
  • Withdraw funds penalty-free at any time.
  • No income or age limits for contributions.
  • Competitive, guaranteed base rate of 1-6% with no downside market risk.
  • Value increases with Good Experience Credits, additional interest earnings awarded when excess reserves exist.

Good for employees who:

  • Are searching for savings accounts with competitive interest rates.
  • Desire financial protection against any unexpected expenses before, at or after retirement.
  • Want quick access to funds at all times.
  • Currently have (or plan to enroll in) another account with Pension Fund.
Get Started

Save for major life events, including:

  • Emergency fund
  • Health care costs
  • Housing expenses
  • Car down payment
  • Education expenses
  • Travel costs
Enroll Now

60%

of Americans don’t have enough savings to cover an unexpected expense of $1,000 or more.*

How it Works

It's important to establish an emergency cash fund along with your nest egg (so you are not tempted to withdraw money from your retirement accounts early). The BAA is a great after-tax savings tool for members who want additional financial security and access to funds penalty-free with no income or age limits.

To participate: To open an account, you’ll need a $25 minimum deposit. BAA deposits can be made electronically (ACH or automatic bill payment) or by mailed check. If you receive a monthly pension from Pension Fund, you can also contribute via pension deduction. Pension Fund will need a completed enrollment form with the amount you wish to contribute. If you are a current member with access to the Member Portal, you can enroll securely online by logging into the Member Portal and submitting your enrollment application online. You can send completed enrollment forms via mail, email or by faxing a copy to Pension Fund.

Enrollment in this product requires an existing retirement account with Pension Fund (e.g., Pension Plan, TDRA or IRAs); OR be a surviving spouse of a Pension Fund participant. Spouses of those who have established a Pension Fund retirement account are eligible to open their own BAA.* The BAA is an after-tax program, which means it won’t reduce your taxable income.

Other requirements for enrollment include:

  1. Working for a U.S. organization or receiving a retirement pension from Pension Fund’s U.S. Pension Plan;
  2. You are an individual (not employer, trust or estate).

Please consult Pension Fund for a full list of eligibility requirements.

Get Started

This product offers a competitive, guaranteed base interest rate of 1-6% (currently 3%), reducing your downside risk. Each account also qualifies for Good Experience Credits (additional interest earnings) when designated by Pension Fund’s Board of Directors.

These credits allow members to benefit directly from the upside of stronger markets (when underlying investments have performed well + minimum reserve requirements have been met). In combination with the BAA’s base interest rate, Good Experience Credits may help you reach your retirement income goals faster.

* Base rate listed is the average of the quarterly base rates for the year. Good Experience Credits listed in the year it was received in accounts. Annualized return includes compounding. Data above represents historical data and may not be indicative of future performance.

Having additional savings means you’re ready for any unexpected life expense that comes your way. Whether you need your funds now or in the future, this supplemental savings program is an important tool to have in your retirement savings kit.

Popular retirement savings accounts such as a 401(k), 403(b) or IRA, as well as other long-term savings options such as Certificates of Deposit (CDs), charge hefty fees and penalties for early or late withdrawals. With the BAA, you have peace of mind knowing your money is available whenever you need it—with no fees—regardless of your age or circumstance.

Enroll Now

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What Our Members Are Saying:

“If I could go back and have a conversation with my younger self, it would be, ‘Invest in Pension Fund and make sure you take advantage of [the IRA and BAA programs].’”

Rev. Julia Brown Karimu (Indianapolis, IN)

“My Benefit Accumulation Account outperforms Edward Jones every year.”

Rev. Geraldine Huckman (Beeville, TX)

“Those who have been with Pension Fund long-term have been very happy with their return on investments, and many of our employees particularly appreciate the added bonus of eligibility for the Roth and Traditional IRAs and Benefit Accumulation Account.”

Johnson College (Knoxville, TN + Kissimmee, FL)

FAQs

Good Experience Credits are additional interest earnings. Each year, the Pension Fund Board of Directors reviews reserves required for current and future benefits, as well as reserves needed for any potential market declines. When reserves exist above what is required, the Board of Directors may declare Good Experience Credits for all Benefit Accumulation Account (BAA) participants. Over time, these extra earnings can make a significant difference when saving for retirement.

Enrollment in this product requires an existing retirement account with Pension Fund (e.g., Pension Plan, TDRA or IRAs); OR be a surviving spouse of a Pension Fund participant. Spouses of those who have established a Pension Fund retirement account are eligible to open their own BAA.*

Other requirements for enrollment include:

  1. Working for a U.S. organization or receiving a retirement pension from Pension Fund’s U.S. Pension Plan;
  2. You are an individual (not employer, trust or estate).

Please consult Pension Fund for a full list of eligibility requirements.

* Spouses who have established a Pension Fund Traditional or Roth IRA are eligible to open their own BAA. A spouse of a current or former/retired eligible employee of an employer eligible to participate in the Pension Plan or TDRA, and who files a joint tax return, can establish a Pension Fund Traditional or Roth IRA.

The minimum contribution to open a BAA account is currently $25. There is currently no maximum contribution amount for a BAA.

There are no income or age limits to contribute to a BAA.

You can contribute BAA funds as often as you like. You are limited to two free withdrawals per month with your account (additional withdrawals are subject to a nominal withdrawal fee).

View more FAQs on our General FAQs page.

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Take a Step Toward Financial Wellness:

Get Started

In need of help?

Our team of dedicated Area Directors can answer your retirement and savings questions and help you decide which product is right for you.

Get Started

How does our BAA compare to other products?

View an overview of how the BAA competes with similar retirement products.

Compare Products

Brochures & Member Resource Books

Learn all there is to know about the BAA with our helpful product guides and resources.

View Resources

Learn

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*Source: Bankrate's Financial Security Index, Jan. 2-6, 2019.