FCMM Addresses New IRS 403(b) Regulations

    The IRS has issued new 403(b) regulations that must be addressed by all local churches before January 1, 2009.  If an EFCA church is participating exclusively in the FCMM Retirement Plan, these regulations can be easily met with minimal assistance.

    The following notices and presentations will assist any EFCA church seeking to understand what they must do in light of the new 403(b) regulations.  To request a copy of the materials we have prepared for you, email fcmm@efca.org or download them directly from the list below.

    Features of the New FCMM

    FCMM is changing in response to new IRS 403(b) regulations and an ongoing desire on the part of the FCMM Board of Trustees to better serve EFCA pastors, staff members, and churches.  Those changes are working their way through legal counsel and board approvals at this time.  We anticipate a public presentation of the new FCMM by August 22, 2008.

    The Advantages of Using FCMM

    Click here to read why it's a great idea to particiapte in the FCMM Retirement Plan.

    FCMM Retirement Plan

    Participation in the FCMM Retirement Plan is available to pastoral and lay staff serving in the Evangelical Free Church of America.  FCMM is designed to provide an eligible participant with retirement income generated from contributions deposited on behalf of the staff member by participating churches and organizations.

    Investment Options

    Participants have the option of participating in four different investment programs.  Click on any program for a description of that program.

    The Retirement Income Program (FCMM's basic program)

    The Stock Investment Retirement Program (More aggressive investing)

    Two Salary Reduction Savings Programs (Additional employee contributions)

    Enrollment Forms

    Click here for an FCMM Enrollment Packet with all the latest information.

    Church Treasurers sometimes need a copy of the CHURCH RESOLUTION.  Click here for a copy of that form.

    Participant sometimes need a SALARY REDUCTION SAVINGS form.  Click here for a copy of that form.

    Plan Document

    Click here to download an abbreviated version of the FCMM Plan document.

    Click here to download the full plan document.  It is a very large file.

    		  

    Why Should I Use the FCMM Retirement Plan?

    There are several great reasons to open an FCMM Retirement Plan account.  For one thing, your retirement income from FCMM can be declared a housing allowance during retirement and once again be non-taxable.  Click here to read more about this unique housing allowance provision and discover other reasons for using FCMM.

    Performance Report

    The performance of FCMM's investments are reviewed by the FCMM Board of Trustees and published on a regular basis.  Click here to view the report for the year ending on December 31, 2007.

    Pastoral Care Ministries
    901 East 78th Street
    Minneapolis, MN 55420
    (800) 745-2202 toll-free
    (952) 853-1773
    pastoralcare@efca.org