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Defined Contribution Plan

Defined Contribution Plan

The Episcopal Church Lay Employees' Defined Contribution Retirement Plan (DC) consists of two different plans - a 401(a) plan and a 403(b) plan.Both are administered by Fidelity Investments.

How Does the Plan Work?

  • Your employer must adopt the plan by:
  • Your employer typically contributes a base contribution equal to at least 5% of your compensation.2
  • You may contribute up to the limits set by the IRS.
  • Your employer may match your contribution. This matching contribution, when added to the employer base contribution, typically should be equal to at least 9%.2
  • Your pre-tax contribution reduces your current income for federal income tax purposes.
  • You are not required to contribute. However, you will lose out on the employer match if you choose not to contribute.2
  • You elect the amount you wish to defer to the plan.
  • You choose the investment options for your account.

Impact on Retirement Benefits

  • Your pre-tax contribution to the Defined Contribution Plan allows you to save more money for retirement.
  • When you retire, your pension benefit is based on the value of your account.
  • All growth in the account accrues to you.


  • You have several Investment Options.
  • Account growth is based on investment performance and may vary.

2019 Contribution Limits

  • If you are under 50 years old, you may contribute up to $19,000 before taxes ($18,500 in 2018)
  • If you are 50 and older, you may contribute $25,000 before taxes ($24,500 in 2018)
  • The combined total that you and your employer contribute may not exceed 100% of your compensation or $56,000 if you are under 50 years old ($62,000 if you are 50 and older), whichever is less ($55,000 and $61,000, respectively, in 2018)
1 Your employer may have adopted only one or both plans.
Ask your employer what percentage its base contribution is, and its match, if any.

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