Common Questions

Top Questions

How much should I be saving?

Saving as much as you can now will make it more likely that you have enough money in retirement. Increasing your contributions by just 1% each year until you reach 15% of your income can make a big difference in how much money you have when you retire.

More Questions: Retirement Savings Plan (RSVP)

How does RSVP supplement my pension plan?

If you participate in the Clergy Pension Plan, you do not contribute to your own retirement account. Your retirement benefit is determined when you retire by a formula based on your compensation and years of credited service. The Retirement Savings Plan offers a way for you to add to your retirement income by contributing to your own RSVP account.

How can I participate in the Retirement Savings Program (RSVP)?

You may participate if you are an employee of the Episcopal Church and your church employer has adopted the plan. Download and complete the Employee Application for Membership Form and mail it to the address indicated on the form.

Can I borrow money from my RSVP account?

Yes, you can. You may borrow 50% of the vested balance of your mutual fund 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.

What are the investment options?

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

Can I allocate my contributions among the Freedom Funds and the plan's other 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.

I would like to transfer my account balances between funds. May I do so and, if so, how often?

You can transfer your full account balance, or any portion of it, between investment options daily, at no cost.

What is the difference between withdrawing funds and transferring them?

Withdrawing funds is taking money out of the RSVP. Transferring funds is moving funds from one investment option to another within the RSVP.

Can I rollover my retirement savings from another plan into my RSVP account?

Yes. Generally the plan will accept rollover funds from any qualified tax-deferred plan.

Besides a lump-sum payment, are other payment options available?

Yes. You may also choose lifetime income options or periodic installments over a period of time or for a particular amount.  

What happens to the money in my RSVP account when I die?

The balance is paid to the designated beneficiary indicated on your completed beneficiary form or to your estate.



Annuities are offered by Church Life Insurance Corporation, 19 East 34th Street, New York, NY 10016.

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