Evaluate CPF Plans
What Will Lay Pensions Cost?
We developed tools to help you estimate the cost of providing a Church Pension Fund pension plan to your eligible lay employees. There are two versions of these calculators - one for congregations and one for schools.
To estimate the costs for your church organization or school:
- Access the Lay Pension Contribution Calculator and Instructions.
- Download our Defined Contribution Pension Calculator for Episcopal Schools and Instructions (to be used by free-standing schools or organizations with a Parish School/Preschool.)
(Please be sure to refer to the official plan documents or the applicable plan guide for the most current definitions of compensation or earnings used by the plan.)
Need Help? Get Step-By-Step Guidance
Contact us and we will help you evaluate your plan choices and associated costs.
What to Consider When Choosing a Plan
| Defined Contribution Plan | Defined Benefit Plan | |
|---|---|---|
| Retaining Employees |
Employer base and matching contributions are 100% immediately vested. An employee's total account balance is portable. |
Longer vesting time encourages long-term employment. Employees are generally not entitled to a benefit until they have earned at least five years of vesting service. The benefit under this plan increases as the employee earns additional years of credited service under the plan. |
| Anticipating costs |
Your organization's costs may vary, depending on how much employees contribute. If an employee doesn't contribute, you may only be required to contribute 5% of compensation. |
A fixed percentage, currently set at 9%, allows you to budget your annual costs up front. |
| Encouraging employee savings | Your organization's matching contribution encourages employees to save their own money for retirement. Employees can make pre-tax, Roth, or after-tax contributions. | You can offer the Retirement Savings Plan to enable employees to save on their own with pre-tax, Roth, or after-tax contributions. |
| Managing risk |
The retirement benefit varies based on how much is contributed and how investments perform. Employees manage their own investments and assess risks on their own. Learn more about the Defined Contribution Plan. |
The benefit is determined by a fixed formula at retirement based on years of Credited Service and Highest Average Compensation. Employees do not contribute or manage investments. The Church Pension Fund's Investment Department manages the plan assets. Learn more about the Defined Benefit Plan. |
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