Forms, Investment Funds and IRS Limits
Annual Contribution Calculation Form - for all contributing participants to be completed each year and returned to the ACC Office by email, mail or fax by November 30
ACC Retirement Plan Full Enrollment Guide - for all participants, congregations and financial advisors; includes investment options and commonly asked questions
Changes to the Investment Lineup as of January 2018
Fidelity Retirement Plan Performance Updates as of 12/31/2017
IRS Contribution limits
Section 415 of the Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. Section 415(d) requires that the Secretary of the Treasury annually adjust these limits for cost‑of‑living increases. Other limitations applicable to deferred compensation plans are also affected by these adjustments under Section 415. Under Section 415(d), the adjustments are to be made pursuant to adjustment procedures which are similar to those used to adjust benefit amounts under Section 215(i)(2)(A) of the Social Security Act.
Should you choose to exceed the limits the excess will be deposited into your non-qualified Supplemental Plan account.
Retirement Plan Limits 2018
- Elective Deferral or Salary Deferral Contributions $18,500
- Annual Maximum Employer Contribution $55,000 (may include up to $18,500 of individual salary deferral contributions)
- Age-50 and over Additional Catch-up Contribution $6,000
- Annual Total Maximum Employer and Individual Contributions, age-50 and over $61,000
Retiring mid-year? Contact the ACC Office especially if you have not reached age 65 and wish to take parsonage as a retiree from the plan this year. All parsonage distributions require trustee approval. First distributions can take up to 4 weeks to complete.