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Vesting

What Is Vesting?

  • Vesting is when you become entitled to your accrued benefit.
  • You are fully vested after five years of employment with a church employer who participates in the Defined Benefit Plan.
  • You can carry any eligibility service to a new participating church employer as long as you do so within 30 years of leaving your previous church employment.
  • If you leave your job after you are vested, you will receive a benefit when you retire.
  • You may also become fully vested at age 55, regardless of your years of employment, as long as you are an active employee and your assessments are fully paid.

Returning To Work

  • If you were vested when you left your job: you receive credit for your prior service if your church new employer participates in the Defined Benefit Plan.
  • If you were not vested when you left your job: you receive credit for your prior service if your new church employment begins within 30 years of leaving your previous church employment and your employer participates in the Defined Benefit Plan.

Temporary absence

  • Temporary absence is not a termination of service.
  • You remain a member of the plan if you are temporarily absent from your job because of:
    • Illness
    • Accident
    • Military service
    • Authorized leave of absence

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.
 Learn more

If you are planning on retiring in 2017 or 2018, contact CPG to schedule a discussion at 
(866) 802-6333
Monday – Friday
8:30AM – 8:00PM ET
(excluding holidays)