The Cumberland Presbyterian Church through the Board of Stewardship, Foundation and Benefits began a plan to provide retirement benefits to ministers and church employees in 1952. Due to changes in the laws related to church retirement plans, the Cumberland Presbyterian Church established the Retirement Plan Number 2 on September 1, 1987 to give you the opportunity to help build financial security for your future.

At the time, this plan was in addition to the old plan to which ministers and other employees had contributed before September 1, 1987. On September 1, 1987 new contributions were no longer allowed to the old plan. By March 31, 1991, all persons with retirement accounts in the old plan had transferred to Plan Number 2, leaving the Church with only one retirement plan. Following are some brief highlights of the Cumberland Presbyterian Church Retirement Plan Number 2:

• Generally, you can participate in this Plan immediately upon enrollment.
• Your savings are on a before-tax basis each month.
• Your church may make a matching contribution to your account for every $1.00 you save, up to 5% of your pay.
• You are fully vested from the beginning of your participation and the value of your account plus earnings is payable if you terminate employment in the church for any reason (or, in the case of ordained ministers, if you terminate your ministerial status in the Church).
• Four times each year, we will give you a personalized report of your individual account status. This report will include the amount of your savings, the church’s matching contributions, and investment performance.