Be sure to notify the Church Pension Group as soon as possible of any changes related to your beneficiaries.
Your beneficiary was elected at the time of retirement. If you marry in retirement, your new spouse will not be a beneficiary of your pension.
- A Qualified Domestic Relations Order (QDRO) gives your former spouse the right to receive a portion of your pension benefits.
- A QDRO has tax and legal benefits – discuss this with your lawyer.
- Refer to the QDRO Procedures for Lay Employees and Model QDRO Form for Lay Employees.
- Your QDRO is subject to approval by The Church Pension Fund's Office of the General Counsel.
- We cannot provide information about your pension benefits to anyone else without a Consent Form.
- Call us at (866) 802-6333 with any questions.
Your beneficiary was elected at the time of retirement. If you marry in retirement, your new spouse will not be a beneficiary of the plan.
Your dependent can be designated as the beneficiary of your pension at the time of retirement if your eligible spouse consents.
The Lay Defined Benefit Plan is a qualified plan under Section 401(a) of the Internal Revenue Code, but as a church plan, it is not subject to ERISA. The plan's financial condition is disclosed in the Church Pension Group Annual Report.
The Church Pension Fund, as sponsor of this plan, continues to monitor the funding status closely. Like many defined benefit plans, the Lay Defined Benefit Plan currently is not fully funded. The Church Pension Fund retains the right to amend, terminate or modify the terms of the Lay Defined Benefit Plan, including the employer assessment rate, without notice and for any reason.