Retirement Savings Plan (RSVP)
The Episcopal Church Retirement Savings Plan (RSVP) is a 403(b) tax-deferred retirement savings plan that gives lay employees the option of contributing their own money toward their retirement savings.
RSVP features include:
- Pre-tax and after-tax contribution options
- Ability to transfer assets and change the allocation of future contributions online or by phone
- 24/7 access to your account
- Daily valuation
- Loan option
- Investment tools to manage risk
- Distribution option in retirement
RSVP offers a variety of investment options, so you can prepare for your retirement in the way that best serves your needs. These include Lifecycle Funds, which take the guesswork out of investing for retirement, and a mix of funds ranging from low- to high-risk.
Effective January 1, 2013, the following changes for the Lay Employees' Defined Benefit (Lay DB) Plan, Lay Employees' Defined Contribution (Lay DC) Plan and RSVP took effect:
- Lay employees who work a minimum of 1,000 hours annually are required to be enrolled in an eligible Pension Plan offered by their employer. Employers can offer the Lay DB Plan or the Lay DC Plan sponsored by The Church Pension Fund, or a pension plan authorized by CPF. For more details, see Lay Pension System.
- The RSVP generally will be available only to lay employees whose employers have adopted the Lay DB Plan or who work less than 1,000 hours annually.
Enroll in RSVP
Impact on Retirement Benefits
- Your pre-tax contribution to the Retirement Savings Plan allows you to save more money for retirement.
- When you retire, your 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.