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Pension Benefit

Once you are reach age 65 and are vested in the Plan, your annual retirement benefit equals:

Highest Average Compensation x 1.5% x Credited Service

Once you reach age 55 and are vested in the Plan, the annual benefit equals the benefit determined for a person retiring at age 65, reduced by a factor for each month the early retirement date is short of age 65. The factor is actuarially determined based on your age at retirement.

For details, please refer to A Guide To Benefits Under the Lay Defined Benefit Plan

The Lay Defined Benefit Plan is a qualified plan under Section 401(a) of the Internal Revenue Code, but as a church plan, it is not subject to ERISA. The plan's financial condition is disclosed in the Church Pension Group Annual Report.

The Church Pension Fund, as sponsor of this plan, continues to monitor the funding status closely. Like many defined benefit plans, the Lay Defined Benefit Plan currently is not fully funded. The Church Pension Fund retains the right to amend, terminate or modify the terms of the Lay Defined Benefit Plan, including the employer assessment rate, without notice and for any reason.

Pensions Disclaimer

Right Rail

Revisions to Lay DB and Lay DC Plans

The Church Pension Fund has announced revisions to the Lay DB Plan, Lay DC Plan, and the RSVP effective January 1, 2018.
 Learn more

If you are planning on retiring in 2018, contact CPG to schedule a discussion at 
(866) 802-6333
Monday – Friday
8:30AM – 8:00PM ET
(excluding holidays)