Contributing to Your Account
Contributing to the Episcopal Church Retirement Savings Plan (RSVP) is easy - just update the contribution amount in your Fidelity account and let your employer know the amount you want to contribute each pay period. Contributing as much as you can to the RSVP may be one of the smartest ways to improve your ability to retire comfortably. It's hard to imagine, but contributing just a few dollars more each week could mean a lot, come retirement - especially when you are investing pre-tax dollars.
What difference can a regular contribution make?
If you saved just $100 per month for 20 years, you will have deposited $24,000, or $1,200 per year. With a 6% return on your investment, your account could grow to $46,000.
Leverage the power of the dollar. Increase your contribution today and watch your retirement savings grow!
2020 Contribution Limits
- If you are under 50 years old, you may contribute up to $19,500 before taxes (up from $19,000 in 2019)
- If you are 50 and older, you may contribute $26,000 before taxes (up from $25,000 in 2019)
- The combined total that you and your employer contribute may not exceed 100% of your compensation or $57,000 if you are under 50 years old ($63,500 if you are 50 and older), whichever is less (up from $56,000 and $62,000, respectively, in 2019)
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