Retirement
In order to assist its employees in ensuring that they have enough funds set aside for their retirement years, the National Association of Free Will Baptists, Inc. established the Retirement Pension Plan of the National Association of Free Will Baptists (“Plan”). This Plan has been amended and restated, effective January 1, 2009. The Plan is intended to provide retirement security to Free Will Baptist ministers and other eligible employees. It allows your employer to set funds aside for your retirement. In addition, it enables you to set aside a portion of your earnings in a tax-advantaged manner during your working years.
The Plan is a church retirement income account program described in section 403(b)(9) of the Internal Revenue Code. The Internal Revenue Code permits denominations and churches to set up retirement plans designed to permit you and your employer to accumulate retirement savings. The Plan takes full advantage of these special tax rules.
You are eligible to participate in the Plan if you are working at least 20 hours a week for an eligible employer that has agreed to participate in the Plan (“Participating Employer”). An eligible employer includes any church or agency that is participating cooperatively with the National Association of Free Will Baptists. In addition, Free Will Baptist ministers who are evangelists or otherwise self-employed and the spouses of Free Will Baptist missionaries are eligible to participate in the Plan without regard to the number of hours they work a week.
If you are eligible to participate as described above, you can become a participant in the Plan upon submitting an Enrollment Agreement to the Board. You must also agree to a minimum monthly contribution of at least $10.