The National Association of Congregational Christian Churches (NACCC), has arranged for benefit plans that provide protection for you and your family.  The NACCC has partnered with The Ministers and Missionaries Benefit Board (MMBB).  You must be employed by an NACCC member church or related organization to qualify for membership.  The plans include medical, dental, comprehensive retirement, disability and death benefits.

MMBB has been providing benefits for those in ministry for over 90 years.  MMBB’s quality plans include fully funded, fully vested pension benefits.

MEDICAL AND DENTAL COVERAGE
Our ministry partner, MMBB, endorses a health program, PremierHealth ‑ through CIGNA Healthcare. For more information about eligibility, premiums and enrollment in PremierHealth; please call a customer service representative at Benefit Planners, third‑party administrator, at 1‑866‑868-0502.

Benefit Planners is one of the top benefit administrators in the country and a company known for its high levels of service to employers and plan members alike.  Beginning in May, contact Benefit Planners for help with PremierHealth eligibility, enrollments, premium rates and billing.  Call Benefit Planners at 866-868-0502, or write to them at: PremierHealth, PO Box 690118, San Antonio, TX 78269

Enrollment Requirements
The requirement that individuals must be employed at least 20 hours per week at an eligible employer to enroll in PremierHealth is eliminated.  In order to enroll in PremierHealth, individuals must be premium-paying members of the Retirement/Death Benefit (RP) or the Tax-Deferred Annuity (TDA) plans.*  Enrollment is permitted within thirty (30) days of the date of enrollment for the first time in the RP or TDA plan.  If an individual is already enrolled in either the RP or TDA plans and enrolls in another MMBB plan, this is not a qualifying event for enrollment.  If dental coverage is elected, coverage must be retained for two calendar years.*
Continuation of Coverage is 18 months (previously 36 months). *

*Those currently enrolled under the existing rules are grandfathered.

THE RETIREMENT/DEATH BENEFIT PLANS
The Retirement/Death Benefit Plans (RP) is a packaged option that includes retirement contributions as well as group term life insurance and disability coverage. Your employer pays premiums equal to 10% of your annual compensation into the Retirement/Death Benefit Plans, allocated as follows:

7%       Retirement Plan Account

1.25%  Special Benefits, including disability

.75%    Group Term Life Insurance

1%      Administrative Fee

RETIREMENT CONTRIBUTIONS
The Retirement Plan offers a fully funded variable annuity with immediate vesting. An amount equal to 7% of your annual compensation is paid in premiums into your Retirement Plan account. Compensation includes annual cash salary and, for clergy, housing allowance or parsonage and utilities. Premiums pur­chase shares for you called "accumulation units." The value of the accumulation unit changes daily to reflect investment results. You will receive personalized account statements quarterly and an annual benefits statement.

GROUP TERM LIFE INSURANCE
In the event of your death during premium‑paying RP membership, a lump‑sum group term insurance bene­fit will be paid to your spouse or other named benefici­ary. The amount will be a fixed percentage of compen­sation on which premiums are paid. The percentage depends upon your age at death. A lesser amount is payable during the first two years of membership.

 If age at death is:            Percentage of compensation payable:

Younger than 41                500%

41 but not 51                     400%

51 but not 61                     300%

61 but not 66                     200%

66 to retirement                 150%

If an accident causes death, the benefit is increased by one year's compensation. In addition, the Retirement Plan provides family benefits, including a lifetime annuity for your spouse and an allowance for each eligible child. A $4,000 death benefit is paid if you die in retirement with at least 15 years of Retirement Plan membership and retired from premium‑paying membership.

DISABILITY COVERAGE
An integral component of your RP benefits is disability coverage. If you are eligible, your disability income will be equal to two‑thirds of your compensation, beginning with the fourth month of disability. Payments are adjusted for Workers' Compensation benefits. After nine monthly payments, disability income is offset by your Social Security income benefit and any other governmental payments. If there are no Social Security or other governmental benefits after the second year of disability, disability payments will be equal to one‑third of pre‑disability compensation.

Premiums for the group term life insurance, the Retirement Plan account contributions and eligible medical coverage during disability are paid at no cost to you or your employer. Disability benefits, including the compensation basis for death benefits and premium waivers, generally rise annually based on the percentage increase in the average compensation of ordained Retirement Plan members. Children's allowances of $2,000 annually are available for each eligible child under age 21.

TAX‑DEFERRED ANNUITY
Employers may make contributions to the TaxDeferred Annuity (TDA) plan for their employees. Before‑tax contributions are made at a monthly dollar amount or based on a percentage of compensation, but not exceeding the IRS maximum annual contribution limit. TDA contributions can be made in addition to the Retirement Plan or as the only source of retirement contributions. TDA is an alternative for employers who have death and disability benefits elsewhere, but need to provide retirement benefits.

THE ANNUITY SUPPLEMENT
The Annuity Supplement (TAS) is an option that enables you to make before‑tax elective‑deferral contributions into a retirement account in addition to either RP or TDA. Your before‑tax contributions to TAS are made by means of a salary reduction arrangement with your employer and are not taxable until received in retirement. After‑tax contributions may also be permitted.

CONSOLIDATE AND DIVERSIFY
You are able to increase your accumulation units by moving retirement accounts from other financial institutions into your accounts at MMBB.  Rollovers to your accounts are permitted from:

• Traditional IRAs

• 401(k) plans

• 403(b) plans

• Governmental 457 plans

CONSOLIDATE
Coordinating your accounts will make managing your investments easier.  For clergy, there may be tax advantages in retirement with the housing allowance designation of church-related 403(b) funds rolled over to MMBB.  By increasing your accounts you have the assurance that your investments are managed by people with solid fund-management experience.  You can trust MMBB’s record of over 90 years.

DIVERSIFY
MMBB offers you the opportunity to diversify – by using Personal Investment Choices (PICs).  You can choose from among the PICs funds – or you can leave your accounts in the Balanced Fund, which invests in bonds as well as the U.S. and international stock markets.  With PICs you are able to change your investment options 24 hours a day, seven days a week by simply logging on to www.drs.dreyfus.com.  To view the PICs fund performance daily, you can visit MMBB’s Web site, www.mmbb.org.

NO LOADS
It is important to remember that with MMBB there are no loading costs.
 

For more information about the plans described in brief, please call or write MMBB.

MMBB

 The Ministers and Missionaries Benefit Board
475 Riverside Drive, Suite 1700, New York, NY 10115‑0049
Phone: 1‑800‑986‑6222 Fax: 1‑800‑986‑6782 www.mmbb.org
Email: service@mmbb.org
 

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