Retirement Plan Summary

The Acts 29 403(b)(9) Associated Plan is designed to offer Acts 29 churches in the United States a retirement plan that is low cost, offers value in investment and fund selections, and is managed by trusted fiduciaries through our partnership with Beacon Pointe Advisors. 

Before initiating the administration of your plan, it is important to consider the benefits of having a retirement plan:

  • Protect your family and your staff families by building a savings vehicle
  • Hire and retain better staff and ministry leaders
  • Ability to utilize the Minister’s Housing Allowance effectively
  • Learn how to think about retirement correctly
  • Invest tax-efficiently in the market’s top-rated investment vehicle

Peruse the below information to learn more about Acts 29’s 403(b)(9) Associated Plan.

Tax-deductible and Tax-free

A 403(b) plan is a tax-sheltered retirement plan for people who work for nonprofit companies and religious church organizations. Contributions to our 403(b)(9) plan are deductible on your federal income taxes. The money comes out of your gross salary and goes directly into the 403(b)(9) plan untaxed.


Contribution Limits

The contribution limit for a 403(b) plan is $22,500 in 2023 and $23,000 in 2024. Individuals who are age 50 and older have the ability to contribute an additional $7,500 annually, according to the IRS regulations.


Eligibility

All full member churches of Acts 29 US are eligible to enroll in our Associated Plan. 

A Guidestone representative will walk you through the eligibility of your church staff. You should consider the following:

  • Each church must decide whether to include only full-time staff or also include part-time staff as eligible for retirement benefits. If the decision is made to include part-time staff, you will need to consider how many hours they must work to qualify (we recommend 20+ hours a week), and you may also consider the years of service.
  • Each church will need to consider if you want to provide an employer match for employee contributions. If so, at what percentage? Additionally, you will need to determine how long employees must work for your church before becoming eligible for matching contributions.


Investment Options

The Acts 29 403(b)(9) plan offers investment options through Guidestone MyDestination funds  and we are excited to offer Vanguard investment options as well. 

 


Rollover Options

You may rollover other tax-qualified accounts into the plan, such as IRAs and other 403(b) plans. If your plan offers a Roth option (preferred), then you may rollover outside Roth plans. A representative from Guidestone will advise you with rolling over existing retirement plans, as you enroll into the Acts 29 Associated Plan.


Fees

 

Participants in Acts 29’s Retirement Plan can expect the following fees, billed every quarter.

  • Beacon Pointe Fee: 22 basis points (a basis point is 1/100 of 1-percent, or .001)
  • Guidestone Fee: 23 basis points
  • Total Fee: 45 basis points annually

By comparison, other plans in the marketplace charge 75-90 basis points annually. 

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