GARBC National Representative Mike Hess opened the first general session of the 2019 Annual Conference by announcing the opening of enrollment in a national 403(b) retirement plan for pastors and employees of association churches. GARBC staff, along with professional consultants with the guidance of the Council of Eighteen, worked for a year to put the plan details together after the initiative was first announced at the 2018 GARBC Conference.
On Monday night, Treasurer Mark Johnson presented to the Council of Eighteen resolutions for officially adopting the new plan and opening it to all churches in the fellowship. “Setting up an effective retirement plan that complies with IRS regulations can be extremely complex and expensive for a church on its own,” he told the council. “This new national plan sponsored by the GARBC offers simple, low-cost access to high-quality investments along with the services and features typically found in large organizations. A group plan like this fills an immense void in the long-term financial security of pastors and vocational Christian workers.”
Though the search for a business partner to manage investments and accounts in the plan took longer than initially expected, the GARBC is pleased to announce that Servant Solutions of Anderson, Indiana has been selected to fill the role of plan administrator and Capital Management, Inc. of Bloomington, Minnesota, will serve as plan advisor. Servant Solutions, a non-profit ministry exclusively serving churches and faith-based organizations, is uniquely and expertly positioned to partner with us on the administration of the plan and provide high quality service with fees significantly lower than the industry average. To learn more about this opportunity and begin your church’s enrollment, visit the GARBC online or email a note. Johnson invites those in the area, as well as conferees, to stop by and meet the advisors with Capital Management, Inc. at exhibitor booth 43.