Retirement

A 403(b)(9) Qualified Church Plan: salary deferrals and temple (employer) contributions made to this plan by qualifying employers, or rolled over from qualifying 403(b) church plans are eligible for parsonage/minister housing allowance in retirement for ordained clergy. Fidelity Investments plan number 71280.

Supplemental Plan: a non-qualified deferred compensation plan in which funds invested are held in an irrevocable trust for the benefit of participants for retirement purposes. Sometimes referred to as the "Rabbi Trust" due to its origin with the IRS, the Supplemental Plan allows employers to make contributions that may exceed the annual IRS maximum contribution limits for eligible compensation. Salary deferrals and temple contributions in this plan are eligible for parsonage/minister housing allowance in retirement as of 2018. Fidelity Investments plan number 71281.

*Important Note: Distributions from the Supplemental Plan are paid out quarterly over a five-year period for account balances over $23,000 (in 2024). Distributions are based on a formula as defined in the Plan document and begin upon retirement, unless a distribution deferral form (see Forms page) is on file with the ACC Office one year prior to retirement.*

Parsonage or housing allowance distributions in retirement. A tax rule that allows a "minister of the gospel" (which includes an ordained cantor or rabbi) to exempt a portion of their salary earmarked for housing costs from their federal income taxes.

Tax-deferred savings opportunities. You pay no taxes on any earnings until you withdraw them from your account, enabling you to keep more of your money working for you now.

Retirement planning tools. You have access to online tools designed to help you manage your assets as you plan for retirement, and educational opportunities provided by experienced financial professionals.

Investment options. You have the flexibility to select from investment options that range from more conservative to more aggressive, making it easy for you to develop a well-diversified portfolio.

To learn more about what the ACC Retirement Plan offers, see the frequently asked questions or FAQs page about our Plan.

*The employees of the ACC are not licensed to provide financial, tax, or social security advice; participants need to contact their own financial advisor for specific recommendations and investment direction.

You can access your account online through Fidelity NetBenefits or call the Fidelity Participant Benefits Line at 1-800-343-0860. Through NetBenefits, you can monitor your account, update your beneficiaries, alter your investments, and take advantage of the wide variety of financial planning tools Fidelity offers!

You are always 100% vested in any contributions made to your retirement account. Your Fidelity statement will reflect the vesting at 100%.

Yes. You are welcome to rollover eligible pretax contributions from a variety of other accounts such as: a 403(b) qualified church plan, a 403(b) plan account, a 457(b) plan,  account, a 401(k) plan account, an IRA previously rolled over from an employer-sponsored retirement plan, like a 401(k)

Note: Only Salary Deferrals and Temple Contributions rolled over from a 403(b) qualified church plan are eligible for parsonage in retirement for ordained clergy.

Beneficiary information can be updated via the Profile link in NetBenefits or by faxing a completed Beneficiary Designation form (on Forms Page) to the Retirement Administrator in the ACC main office. You are able to specify up to 4 different Beneficiary Types: a person, an estate, an organization, a trust.

In addition to the fees charged by the various fund providers, the ACC charges an administrative fee, currently $380.00 per year, divided into quarterly deductions from each participant account. Fidelity Investments charges a record keeping fee, currently $96.00 per year, divided into quarterly deductions from each participant account. As of 2018, the administrative fee will be waived for new participants in their first two years of employment.