Evaluate CPF Plans
What Will Lay Pensions Cost?
We developed tools to help you estimate the cost of providing a CHurch Pension Fund pension plan to your eligible lay employees. The two versions of these calculators - one for congregations and one for schools - let you determine the cost to your church or institution.
To calculate plan costs for your church organization or school:
- Access the Lay Pension Contribution Calculator and Instructions.
- Download our Defined Contribution Pension Calculator for Episcopal Schools and Instructions. (To be used by free-standing schools or organizations with a Parish School/Preschool.)
Need Help? Get Step-By-Step Guidance
Contact us and we will help you evaluate your plan choices and associated costs, when to proceed, and how the system will benefit your employees and your organization.
What to Consider When Choosing a Plan
| Defined Contribution Plan | Defined Benefit Plan | |
|---|---|---|
| Retaining Employees |
Employer base and matching contributions are 100% immediately vested. An employee's total account balance is portable. |
Longer vesting time encourages long-term employment. Employees are generally not entitled to a benefit until they have been enrolled in the plan for at least five years of compensated service with a participating employer. The benefit under this plan increases as the employee earns additional years of service. |
| Anticipating costs |
Your organization's costs may vary, depending on how much employees contribute. If an employee doesn't contribute, you are only required to contribute 5% of compensation. |
A fixed percentage, currently set at 9%, allows you to budget your annual costs up front. |
| Encouraging employee savings | Your match encourages employees to save their own money for retirement. | You can offer the Retirement Savings Plan to enable employees to save on their own with pre-tax dollars. |
| Managing risk |
The retirement benefit varies based on how much is contributed and how investments perform. Employees manage their own investments and assess risks on their own. Learn more about the Defined Contribution Plan. |
The benefit is determined by a fixed formula at retirement based on years of Credited Service and Highest Average Compensation. Employees do not contribute or manage investments. The Church Pension Fund's Investment Department manages the plan assets. Learn more about the Defined Benefit Plan. |