Published Rate

We do our best to keep participants informed by publishing the monthly rate of return on the website. The published rate is the annual year to date investment return for the total investment portfolio for the defined contribution plan. Your individual rate of return will vary based upon the timing of any deposits and withdrawals, if applicable.

How do I get started?

The best way to get started is by calling the retirement specialist who is willing to walk you through the enrollment process. Please consider starting the process by viewing our resources page for enrollment forms.

Why should I start?

There are many benefits to joining the Converge Retirement Plan. Some of the less recognized features are listed below and should be considered

1. Social Security Won't Be Enough

Participants will need income beyond Social Security benefits to make it in your retirement years. You will receive approximately one-third (1/3) of your annual compensation from Social Security. (If you are married, you will receive 50% more.) This likely will not be enough to live on. Some pastors and staff have even chosen to opt out the Social Security plan. Other pastors are afraid to retire because they have not been in a retirement plan long enough and they have not been encouraged in this direction by the churches they have served.

2. Comfortable Income

Whether you are a pastor, missionary or a non-minister staff person, the Retirement Plan, combined with Social Security, can provide a comfortable income for your retirement years.

3. The Plan is Solid

  • For over 50 years, the Retirement Plan has provided impressive benefits to its participants.
  • The longer a person is a member, the greater the benefit they will receive in retirement.
  • A board of industry professionals guides the investment portfolio.
  • Administrative costs are kept to a minimum, currently less than 0.20% of assets per year.
     

4. The Plan Offers Added Benefits You Won't Find Elsewhere

  • There is a one-time-annual-compensation death benefit, which vests over five years and is given to your spouse or estate if you die before retirement while contributing to the plan.
  • If the plan participant passes away before retiring, the surviving spouse will begin to receive a monthly pension benefit when the participant would have reached 60. The amount of the benefit is calculated as if the participant had reached 65.
  • If after five years in the plan you become disabled and have continuously contributed to the plan, the plan will pay the Basic Plan contribution of 6% of the participant's salary until the disability ends or reaches retirement age.
     

5. The Plan Serves Church Planters to Mega Churches

Resources are often tight in churches with newer or small congregations. Small churches can choose to include their pastors and full-time non-minister staff knowing that the benefits far outweigh their investment. The church's contribution to the Basic Plan is 6% of the participant's annual salary that can be paid annually, semi-annually or quarterly.

Where does my Money go if I leave the Conference?

The benefits you build up in the plan are protected if:

  • You become disabled.
  • You die before retirement.
  • You transfer to another church or organization that's not participating in the plan.

If you are in the plan a short time (e.g., 0-2 years), your contributions can be rolled into another plan.
 
If longer, your basic plan benefits are paid at retirement with benefit increases and your supplemental account balance can grow until retirement or be rolled into another plan.

Thank you for signing up to learn more about the Retirement Plan!