Am I just a number to Pension Plan staff?
No. Benefits are administered directly by Brethren Benefit Trust. BBT staff are people of faith who share the values upheld by the Church of the Brethren. They know many plan members by name and are responsive to client concerns.

Do I have to pay taxes on my accrued pension donations or on my investment returns before I retire?
No. Employer contributions are tax deferred: Plan members do not pay income tax on this money or on their investment income until it is received as a benefit. Employees may also choose to have their contributions tax deferred: Ordained clergy receiving an annuity may reduce their federal tax liability by the amount of their qualified housing costs.

Can I increase my retirement benefit by making additional contributions?
Yes. As a defined contribution plan, employer contributions are set. However, a benefit can be further enhanced when:

• employers or active plan members make additional optional contributions.
  
  
• retired plan members receiving an annuity continue to work or start working again and elect to resume making contributions.

Can I take part in the allocation of my funds?
Absolutely. There are five fund choices:

• Common Stock
  
  
• Balanced
  
  
• Bond
  
  
• Short Term
  
  
• Community Investment Fund

Plan members have the privilege of allocating contributions among all four funds in any combination. Contributions may be shifted as often as once a month. Fund selection/Fund transfer sheets are available online.

The performance of a person's account will vary depending on contribution allocations, the number and timing of transfers, and the performance of the markets in which a person's funds are invested.

At retirement, are there payment options that include my spouse?
Yes. At retirement, members have four choices:

• single life option
• 50 percent spouse option
• 75 percent spouse option
• 100 percent spouse option

Spouse options provide a benefit for the plan member and spouse as long as both live.

Will I receive a benefit for my lifetime?
Yes. Retirees need never worry that their annuity money will be exhausted.

When an annuitant lives longer than expected and depletes his or her account, funds are added to that account from the Retired Benefits Fund.

Can my annuity payment change?
Yes. The Plan is designed to provide a "level" annuity payment for the lifetime of each annuitant; however, it is possible for the payment amount to fluctuate up or down. Over its 60-plus year history the Pension Plan has provided generous benefits while maintaining financial stability. This has included several percentage increases as well as numerous "13th checks" during those times when the markets have made favorable returns. Unfortunately, it is possible for annuity payments to be decreased due to adverse market conditions.

Are my funds managed by experts?
Yes. Although there are never guarantees that investments will have excellent returns, Pension Plan investments are managed by six professional fund managers that have extensive experience in handling church pension assets. The managers work under strict performance and social responsibility guidelines and are monitored by BBT's chief financial officer and the Board's Investment Committee.

Can I lose my benefits once I am vested?
Once vested, members do not lose their pension benefits if they leave their jobs prior to retirement. The employer portion of their pension account remains in the Plan to fund an annuity for them at a later date. Personal contributions and the related investment return may remain or be withdrawn once a year after a member leaves the job.

Why is housing allowance no longer reflected on Brethren Pension Plan annuitants' 1099-R forms?
Prior to 2008, Brethren Benefit Trust requested that retired ministers receiving an annuity benefit from the Brethren Pension Plan submit a housing allowance amount to the Pension office, for use in processing 1099-R forms. By reflecting this amount on 1099-R forms, BBT was inadvertently limiting the amount of housing allowance pastors who received annuity income from multiple sources could claim.

It is now the pastor’s responsibility to calculate and report the portion of the pension income that is designated housing allowance. The BBT Board makes an annual decision to allow up to 100 percent of a pastor’s Pension annuity income to be designated as housing allowance. BBT’s current practice of not reflecting housing allowance on the 1099-R form does not put pastors at any more risk of an audit by the Internal Revenue Service than the previous method.