Our Retirement Plan for Christian Colleges/Universities
At Servant Solutions, we honor God by giving our best in fulfilling our mission statement to “Improve Financial Security for Servants of the Church.” That mission manifests itself through serving ministers and missionaries as well as faculty and staff in Christian higher education. We feel an affinity and values alignment with the mission of Christian colleges and universities and the impactful ministry that those organizations provide.
Servant Solutions is honored to serve as a retirement provider for these fine Christian Colleges/Universities.
DID YOU KNOW:
One of your most precious assets is your highly skilled professional faculty?
The culture your colleges and universities present to their new and existing employees must be one which truly values them as members of the college/university team. A retirement plan is a tangible way to do just that. A fair compensation package allows faculty to focus on teaching (their ministry), while minimizing financial stress.
What Type of Plan Is It?
A 403(b)(9) Church Plan is a defined contribution plan specifically designed for the unique needs of churches, Christian colleges and universities and ministry organizations.
Who can participate?
Employees from all ministry organizations listed above are eligible to participate, unless the employer specifically excludes them.
What type of investments?
Lifefunds – Age based mutual funds designed with appropriate level of risk
Mutual Funds – For those who watch the market closely, you may pick and choose individual mutual funds
Fixed Income Option – Out of market option with a stated rate of return
Types of Contributions?
Participants can elect to have their employer withhold money from their paycheck that can be contributed as a tax-sheltered or after-tax contribution.
Employers can make a tax-sheltered contribution on behalf of their employees.
Colleges and universities can begin offering our plan to Faculty/Staff at no charge
No minimum contribution required for employees to open account
No minimum contribution amount required monthly
Lessens total annual taxable income
Unique non-profit status allows us to keep fees exceptionally low
Ordained ministers have special tax advantage (Housing Allowance)
No time consuming 5500 form filings required for employers
Excellent service – including FREE financial education and opportunities for consultation with a Financial Planning professional
Rollovers from other eligible plans are possible with no tax implications