Vesting

Uniform annual contribution . . .

The current annual contribution is $600.00 per year per unit ($159.00 quarterly), well within the financial capability of every congregation. Participants may subscribe to multiple units. Annual contributions by the church or institution on behalf of the minister or employee are neither taxable or subject to Social Security tax to the member. The Plan cannot receive pension payments after age 65 for ministers or employees.
Although the Plan has historically charged (and intends to continue to charge) the amounts listed above, the required contribution could vary depending on investment return, mortality, age distribution, and other factors. Any variation in the cost of a contribution unit will be determined by actuarial analysis.

Immediate vesting . . .
A member is vested when one full year’s contribution ($600.00) has been credited to him. This means that a member will collect a pension payment when he reaches age 65 even though he has been in the Plan for only a single year.