We have provided an FAQ list below about Acts 29’s 403(b)(9) Associated Retirement Plan. We hope this will answer your questions about our plan and we will continue to update this as needed.
Retirement Plan FAQ
Who is the plan available to?
The Acts 29 retirement plan is available to all Acts 29 churches in the United States. Once a church is enrolled, the plan can be offered to your church pastors and staff on payroll.
Can part-time church employees be enrolled in the plan?
An employee must complete 500 hours of service over 3 consecutive months OR 1,000 hours worked for employer contributions. Temporary employees may sign up to make their own contributions, but you won’t match until they reach the hours indicated above. Please refer to this article on retirement benefit regulations.
When can I enroll/sign-up?
Anytime! The plan is open for enrollment at any time throughout the year. Simply fill out the enrollment form found at acts29.com/retirement.
How do I enroll/sign-up?
There is a simple enrollment form found on our retirement webpage, acts29.com/retirement. If you have any questions, email retirement@acts29.com.
What kind of plan is being offered?
Acts 29 has built a 403(b)(9) Associated Plan to help every church within the organization access the highest quality resources at the lowest possible cost. This will help larger churches who are looking to push down expenses and stay on top of regulatory concerns while also allowing smaller churches access to institutional-level investments at the same price.
Who is helping Acts 29 in this effort?
Acts 29 has sought the help of institutional advisors to run the plan through Beacon Pointe Advisors, a top-level service group that has a strong focus on nonprofits and faith-based organizations.
How are fees paid in the account?
Beacon Pointe assesses all provider fees on a quarterly basis and they are determined through the size of the overall plan. All fees are paid by a small percentage from each participant account that is within the entire Associated Plan. 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
*All return information is net of fees.*
We currently use Guidestone, why should I make a change?
Whether you are a large church or a small church, the Acts 29 Associated Plan will not only provide your church with resources that were not obtainable prior to our relationship with Beacon Pointe, the joint effort will lower costs and help other church start-ups that would like an institutionalized plan. It carries forward the mission of being a church helping other churches and has a fiduciary monitoring every component putting your best interest first.
Can I rollover other retirement accounts into the 403(b)(9) plan?
You may rollover other tax-qualified accounts into the plan, such as IRA’s and other 403(b) plans. If your plan offers a Roth option (preferred) then you may rollover outside Roth plans.
What is the difference between a 401(k) plan and a 403(b) plan?
401(k) and 403(b) plans are both similar retirement plans for employees in that they are funded with pre-tax dollars. Both have the same annual contribution limits. The primary difference between the two is that 401(k) plans are for for-profit companies whereas 403(b) plans are for nonprofit companies.
Can a staff member from a church enroll themselves individually?
A church enrolls in the plan, not individuals. Each church must apply as a church first, using one point of contact for the church’s retirement plan. After this initial church enrollment step is complete, the church may then determine which staff members to add to their organizational plan.
