IRS Makes Changes For 2019 Mileage Rates
The Free Will Baptist Board of Retirement exist to assist Free Will Baptist ministers with retirement options. We encourage our churches to assist their pastors by paying into a retirement program through the FWB Board of Retirement. One way to show your pastor appreciation this year would be to give him a raise by making monthly retirement contributions on his behalf. The retirement contributions are tax deferred and do not need to be listed on his W-2 at the end of the year. Paying in 5% of the pastor’s total salary toward his retirement or matching what he is paying into his retirement are two possible suggestions to assist him with his retirement. Tennessee pastors are offered an incentive for their retirement plans if their church supports “The Unified Ministry Plan” with “undesignated” offerings. (Contact the TN State Promotional Office for details.) The default plan with the FWB Board of Retirement has gained an average of 8% over the past several years and is a solid investment for your pastor’s future. If, as a minister, you are already a part of the retirement program, you can register your account online and log in through the Board of Retirement website and calculate potential outcomes by an input of monthly contributions. To learn more, CLICK HERE.