Contributions

  • Employers must contribute an amount equal to at least 5% of the employee's compensation.
  • Employees may contribute to their accounts, but are not required to do so.
  • An employer's matching contribution, when added to the 5% base contribution, must equal at least 9%.1
  • Employers may choose to make a larger base contribution, as long as the combination of the base and the match equals at least 9%.

Eligible Compensation

For the Employer's Contribution to the Lay DC Plan

For the employer's contribution to the Lay DC Plan, compensation is defined as the sum of:

  • Base salary
  • Overtime
  • Bonuses
  • Special service fees
  • Utilities
    • Allowance the employee receives to cover the cost of utility bills, such as fuel, gas and electricity, or
    • The amount the employer pays for utilities on the employee's behalf
  • Housing, calculated based on the formulas noted below.
    • If housing is provided rent-free, the value of housing is calculated at 30% of the sum of the employee's base salary and utilities.
    • If both housing and meals are provided cost-free, the value of housing is calculated at 40% of the sum of the employee's base salary and utilities.
  • All or a portion of severance or pay continuation

For the Employee's Contribution to the Lay DC Plan

For an employee's contribution to the Lay DC Plan, compensation is defined as the sum of:

  • Base salary
  • Overtime
  • Bonuses
  • Special service fees
  • Utilities
    • Allowance the employee receives to cover the cost of utility bills, such as fuel, gas and electricity, or
    • The amount the employer pays for utilities on the employee's behalf

Contribution Limits

The IRS limits the amount an employee can contribute to his or her account, as well as the total amount an employer and employee together can contribute.

The IRS contribution limits for 2016 are:

  • Employees under age 50: $18,000 
  • Employees age 50 by the end of the year and older: $24,000 before taxes
  • Employer + Employee: $53,000 before taxes 

Send employer contributions to:

The Church Pension Fund
c/o Fidelity Investments
P.O. Box 5000
Cincinnati, OH 45273-8686

This combination is consistent with the requirements of General Convention Resolution A138.

Pensions Disclaimer

Right Rail

Need Help?

Call Client Services for assistance
(855) 215-5990
Monday – Friday
8:30AM – 8:00PM ET
(excluding holidays)

Fax Number
(877) 4-FAX-CPG
(877) 432-9274

Looking for more information, see At-A-Glance Contact List

You May Also Want To...