Plan Documents

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Plan Documents

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The retirement plans offered by the ACC include:

  • ACC Retirement Plan. A 403(b) Qualified Church Plan. Salary Deferrals and Temple Contributions made to this plan by qualifying employers, or rolled over from a qualifying 403(b) church plan are eligible for parsonage in retirement for ordained clergy. Known as Plan 71280 by Fidelity Investments.
  • 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 not eligible for parsonage in retirement and distributions are considered taxable upon distribution. Known as Plan 71281 by Fidelity Investments.

Important Note: Distributions from the Supplemental Plan are paid out quarterly over a five-year period for account balances over $18,000 (in 2017). Distributions are based on a formula as defined in the Plan document and begin upon retirement, unless a distribution deferral form is on file with the ACC Office one year prior to retirement. 

 

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