Care of pastors at various life stages is of high importance to the Brethren in Christ Church. For congregations in the United States, this includes providing retirement benefits for ministerial staff. The goal of the Brethren in Christ Pension Fund is that those who have served the church faithfully during their work years will be able to enjoy financial security in their retirements.
Toward that goal, BIC churches are instructed to make an annual contribution equal to 10 percent of the pastor’s compensation (salary plus housing allowance) into his or her retirement account. In addition, pastors and other ministry workers are strongly encouraged to add their own pretax contributions to the funds that are allocated by their churches.
Employer contributions
- Your church makes contributions to your BIC Pension Fund account on your behalf.
- Your contributions and earnings grow tax-free until you withdraw funds (receive distributions).
- You choose how to invest the contributions from any of the 6 investment options available through the BIC Foundation.
- The default election for the BIC Pension Fund is the Vanguard Life Strategy Moderate Growth Fund until you choose other investment options.
- Employer contributions are immediately 100% vested. (The money is yours today.)
Getting started
Employer contributions begin once you are enrolled by your church in the BIC Pension Fund. If you or your treasurer have questions, please contact us.
Pastor/Employee pretax contributions
- You make contributions to your BIC Pension Fund account on a pretax basis.
- Your contributions and earning grow tax-free until you withdraw funds (receive distributions).
- You choose how to invest the contributions from any of the 6 investment options available through the BIC Foundation.
- The default election for the BIC Pension Fund is the Vanguard Life Strategy Moderate Growth Fund until you choose other investment options.
Getting started
Follow these steps to start or increase pretax contributions to your account:
- Complete and sign the 403(b) Salary Reduction Agreement form
- Have your treasurer sign the form
- Complete the TSA Investment Election form
- Complete the Designation of Beneficiary form
- Return the forms to the BIC Foundation
(The above-mentioned forms are available upon request from the BIC Foundation)
You can begin or increase your contributions at any time.
