Portability

Portability (Transfer) . . .
The Plan is portable. As the member moves from one church or institution to another, he carries his pension credits with him. Transfer from one church or institution to a new affiliation is simple. It requires only notice to the Plan Administrator of the projected move, and the commitment of the new church or institution to continue contributions in his behalf by submitting a signed contract for participation.

Pension Payments . . .
Pension payments to the member begin at age 65 and are paid for the rest of his life, even though he may continue to work.
A monthly benefit is credited for each unit for each full year of plan participation according to the following schedule.

Enrollment Age Rate Credited
Less than 30 $20.00
30 through 34 $17.00
35 through 39 $13.50
40 through 44 $12.00
45 through 49 $10.00
50 through 54 $ 8.00
55 through 59 $ 6.00
60 through 63 $ 4.00