14.06 Retirement Benefits
The following is a summary of the 403(b) Future Funded Ministry Plan of CHPC:
Employee Contributions – All employees are eligible to participate through payroll deduction in the 403(b) Future Funded Ministry Plan. There are two options – pre- or post-tax deductions from your payroll are contributed into a plan. You can select the investment options you prefer. All contributions you make are 100% vested immediately.
CHPC Contributions – CHPC pays a percentage of your salary into the 403(b) plan for Full-time employees. You must be 21 years of age and complete one year of service (1664 hours) before becoming eligible. Employees are 100% vested in any contributions made by CHPC into this plan. CHPC contributes 7% of eligible salary for Full-Time employees and 11% of eligible salary for ordained ministers.
Employee Contributions – All employees are eligible to participate through payroll deduction in the 403(b) Future Funded Ministry Plan. There are two options – pre- or post-tax deductions from your payroll are contributed into a plan. You can select the investment options you prefer. All contributions you make are 100% vested immediately.
CHPC Contributions – CHPC pays a percentage of your salary into the 403(b) plan for Full-time employees. You must be 21 years of age and complete one year of service (1664 hours) before becoming eligible. Employees are 100% vested in any contributions made by CHPC into this plan. CHPC contributes 7% of eligible salary for Full-Time employees and 11% of eligible salary for ordained ministers.
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