Church Employee Annuity Plan

PLAN INFORMATION

THE CHURCH ANNUITY PLAN (CHAP)

The Church Annuity Plan is a 403(b)(9) retirement plan. By participating in this type of retirement plan, contributions you and your employer (church, school, or association) make into your retirement account can be tax-sheltered and tax-deferred. This means you will not pay taxes on your contributions or your earnings until withdrawal. The Church Annuity Plan is offered as an employer-sponsored retirement plan through your employer.

PLAN BASICS

• You must receive W-2 taxable income from a Southern Baptist church, church-related school or association that is recognized by your state Southern Baptist convention.
• You and/or your employer can make contributions to your retirement account.
• Your contribution can be automatically deducted from your paycheck by your employer and placed into your retirement account.
• There is no minimum contribution amount required to participate in the retirement plan.
• There are potential tax advantages for persons recognized as “a minister for tax purposes” by the IRS. Contact GuideStone for ministerial tax materials.

ADDED BENEFITS PROVIDED BY YOUR CONVENTION

• Up to $500 a month in disability protection.*
• Up to $100,000 in life protection.*
• Up to $210 matching dollars each year in retirement contributions from your convention.

To receive state convention benefits, your church must contribute a minimum of $1,000.00 per employee per annum to Cooperative Program through SCBI. For church eligibility, contact your state convention office. Getting started

*Provided at no cost and without medical underwriting by your Baptist state convention. Please refer to The Church Annuity Plan brochure for further details on receiving this benefit.