To access your account, go to the Retirement Savings Plan page of our website.
You may wish to begin by using our Retirement Spending Calculator to estimate how much of your retirement savings you can spend, how long your savings will last, and to build a budget for your retirement.
Yes, subject to Internal Revenue Service limitations. You may borrow 50% of the vested balance of your account to a maximum of $50,000. No more than two loans may be outstanding at any one time. The minimum principal amount of any loan is $500. The maximum loan repayment period is five years, unless the purpose of the loan is to acquire a principal residence, in which case a repayment period of up to 15 years is permitted. Loans are repaid by Automatic Clearing House (ACH) debit against your bank account.
- With a Church Life Annuity, you can have the option of receiving guaranteed income for the rest of your life.
- With the Retirement Savings Plan, one of your options in retirement is to receive payments for as long as you live, with the further option of protecting those payments against inflation. You can also receive payments for a specified period, or you may request payments of a specified amount.
More RSVP Questions
They include a variety of funds ranging from a money market mutual fund to growth-focused stock funds and the Stable Value Option (SVO). View investment options
Yes, if you wish. The Freedom Funds are designed to serve as stand-alone options, since each fund invests in a combination of well-established Fidelity mutual funds and is professionally managed to provide a consistent retirement investment strategy over time. However, you are free to allocate your contributions among all the investment options, including the Freedom Funds.
With the exception of the SVO, you can transfer your full account balance, or any portion of it, between investment options daily, at no cost.
The Stable Value Option: In a given calendar year, you can make penalty-free transfers of up to 20% of:
- Your account balance on January 1 of that year, plus
- The amount of contributions or transfers to the account, previously made in the same calendar year, less
- The amount of transfers from the account, previously made in the same calendar year
If you transfer more than 20% of this total amount, you will incur a 5% fee. At age 59½, this no longer applies.
Withdrawing funds is taking money out of the RSVP. Transferring funds is moving funds from one investment option to another within the RSVP.
Yes. Generally the plan will accept rollover funds from any qualified tax-deferred plan.
Yes. You may also choose lifetime income options or periodic installments over a period of time or for a particular amount. To review your options please refer to Your Retirement Account in Transition.
The balance is paid to the designated beneficiary indicated on your completed beneficiary form or to your estate.
More Annuity and IRA Questions
Annuities are offered by Church Life Insurance Corporation, 19 East 34th Street, New York, NY 10016.