Benefits to The Sovereign Church Retirement Plan
The Minister’s Housing Allowance is one of the greatest tax benefits available to ministers. As an ordained, licensed, or commissioned minister, you can receive a portion of your compensation as Housing Allowance. That portion is excluded from your gross income and therefore not subject to federal income tax. This represents substantial tax savings for you.
Further, when you retire as an ordained, licensed, or commissioned minister, a portion of your 403(b)(9) retirement plan distribution can be taken as Housing Allowance, providing additional tax savings in retirement. To retain the benefit upon retirement, do not transfer any of these funds to an IRA. This unique benefit enhances The Sovereign Church Retirement Plan.
Everyone Can Invest Well
The Sovereign Church Retirement Plan uses open architecture and a unique menu creation/selection process to create and maintain your investment menu. Investment selection is made easy. You have the option of choosing your investments or selecting a guided process. Your investment menu is reviewed quarterly by the Sovereign Church Retirement Plan Oversight Committee.