Contributing to Your Account
Contributing to the Episcopal Church Retirement Savings Plan (RSVP) is easy - just update the contribution amount in your Fidelity account and let your employer know the amount you want to contribute each pay period. Contributing as much as you can to the RSVP may be one of the smartest ways to improve your ability to retire comfortably. It's hard to imagine, but contributing just a few dollars more each week could mean a lot, come retirement - especially when you are investing pre-tax dollars.
What difference can a regular contribution make?
If you saved just $100 per month for 20 years, you will have deposited $24,000, or $1,200 per year. With a 6% return on your investment, your account could grow to $46,000.
Leverage the power of the dollar. Increase your contribution today and watch your retirement savings grow!
2023 IRS Contribution Limits
| Under 50 years old | 2022 | 2023 |
|---|---|---|
| Combined total that you + your employer contribute* | $61,000 | $66,000 |
| Maximum amount you may contribute | $20,500 | $22,500 |
| Age 50 years and older** | 2022 | 2023 |
| Combined total that you + your employer contribute* | $64,500 | $73,500 |
| Maximum amount you may contribute | $26,000 | $30,000 |
*The combined total that you and your employer contribute may not exceed 100% of your compensation
**Includes catch up amount for those 50 years and older of $6,500