Church Pension Group | Your Benefit

Your Benefit

You can begin receiving your benefit as soon as you retire. The amount you receive depends on the value of your account balance. Some of your options include:

  • Maintaining your savings in the plan until you decide to withdraw some or all of your funds
  • Receiving a lump sum payment of all or a portion of your account
  • Receiving monthly, quarterly, semi-annual, or annual installments
  • Rolling over your account balance into another retirement plan, IRA, or Roth IRA, subject to IRS requirements.

If you leave your church employment before you retire:

  • You can roll over your account balance to another retirement plan, IRA, or Roth IRA.
  • You can maintain your account balance in the plan until you must begin to receive required minimum distributions.
  • You can take a distribution from your account, but you may be subject to a 10% early withdrawal tax, in addition to applicable income taxes.
  • Contact Fidelity Investments at (877) 208-0092 to discuss your options.

If you become permanently disabled while you are employed by the Church:

  • Your account balance may be payable to you with the 10% tax on early distributions waived.
  • Aflac, which has been designated as The Church Pension Fund Medical Board for the plan, must certify the disability.

When you die:

  • Your account balance generally will be payable to your designated beneficiary(ies), so it is important to keep them up to date.

For more information, please see the RSVP & Lay DC Plan Employee Guide.


Pensions Disclaimer

Disability Insurance Disclaimer