Parsonage in Retirement

Two of the most important documents for participants to read and share with financial advisors are located right here:

1. Click to view an important summary of ACC Retirement Plan FAQs.

2. The Parsonage in Retirement article highlights the top 10 most common questions we receive on this topic. Unless your financial advisor specializes in 403b Qualified Church Plans, it is unlikely they know the benefits of you participating in the ACC Retirement Plan and the opportunities it can afford you in retirement. Direct your advisor to this article so they understand that just because you are retired, it doesn't mean you are no longer eligible for a parsonage allowance.

QUALIFYING FOR PARSONAGE IN RETIREMENT

Each fall, the ACC Retirement Board of Trustees vote on 100% of cantor distributions as parsonage eligible and the vote is recorded into the meeting minutes. Please keep the Plan Administrator informed of your retirement plans. 

You can ONLY claim parsonage if you are an ACTIVE member of a qualified clergy-based plan, such as the ACC Retirement Plan. If your retirement funds are NOT in a clergy-based plan, you will no longer be eligible to take parsonage once you retire from active employment with your congregation.

Furthermore, once you deplete the available funds in your ACC (or another clergy based) plan, you will no longer be able to claim parsonage. Thus, we encourage you to utilize outside sources of income to the maximum extent and enable your ACC account to remain active for as long as possible. Once your account is depleted, you will no longer be able to claim parsonage.

Please note that the title of “Emeritus/a” has no bearing on whether you can claim parsonage. It is an honorific title between you and your former congregation.