After each payroll cycle, you receive a transmittal form detailing your expected contribution for each employee. This calculation is based on:
- the employee's salary
- the percentage you choose for the base contribution
- the percentage the employee chooses to contribute
- your matching contribution
We suggest that you transmit contributions in each payroll cycle, rather than monthly. If you do so, the contribution you transmit will reflect the expected contribution amount based on your payroll date.
To correct transmittal errors when employees leave or salaries change, notify us of the changes in writing. Please send a letter with the correct information to:
The Church Pension Fund
445 Fifth Avenue
New York, NY 10016
Attn: Pension Services
Changing the transmittal form is not a substitute for a written notice, although you may alter the transmittal form to process a contribution in a timely manner.
Federal tax withholding amounts and in some states, state tax withholding amounts may be reduced by the amount of the employee's retirement plan contribution. For example, if gross income is $500 per week and the employee is contributing 4% ($20), withholdings are based on weekly earnings of $480 ($500 less $20).