Plan

Plan Sponsorship . . .
The Christian Churches Pension Plan is sponsored by a Board of Governors which is nominated by the organizations which adopt this Plan (“Participating Organizations”). Thus, when a congregation or Affiliated Institution enrolls its employees in the Plan, it becomes entitled to nominate the members of the Board of Governors.

Plan Operation . . .
The Plan is operated as a qualified retirement plan under Section 401(a) of the Internal Revenue Code.
The Plan is ultimately controlled by a nine-member Board of Governors, the members of which are nominated by the Participating Organizations. The Board of Governors confirms the nominations. The Board also elects four Governors who serve as an Executive Committee.
The Plan’s day-to-day affairs are managed by the Plan Administrator who is appointed by the Board of Governors.
Presently, the Trustee of the Plan’s assets is the US Bank of Joplin, Missouri. Other co-trustees or successor trustees may be retained by the Board to manage some or all of the Plan’s assets. Only banks or similar financial institutions which are supervised by the federal or state government are eligible to be Trustees.

Limitations on the Plan Administrator’s Duties . . .
While the Plan Administrator manages the day-to-day affairs of the Plan, he does not have sufficient information to make determinations regarding a number of issues. Among these issues are whether contributions made on behalf of an employee are within the limitations on contributions imposed by Section 415 of the Internal Revenue Code. Partici-pating organizations must, therefore, be aware that they have obligations to their employees under the Plan.