Investing for retirement—even in small amounts—can impact the quality of life after an active career, and ministers have an excellent opportunity to do this and receive tax advantages through the Nazarene 403(b) Retirement Savings Plan*.
February 27 – March 3, 2017, is America Saves Week—an annual emphasis by almost 1,700 organizations to promote good savings behavior. It also provides a time for individuals to assess how well they are doing in saving for the future. During this week, Pensions and Benefits USA is joining with our partner, Fidelity Investments, to encourage ministers and church boards to do what they can to set aside more money for retirement via the Nazarene 403(b) Retirement Savings Account Plan.
“There is no minimum limit on the amount participants may contribute to our retirement savings plan with Fidelity Investments,” said Don Walter, director of Pensions and Benefits USA. “Like their counterparts in other careers, young ministers often think they have little to invest for retirement, so they don’t, but the power of compounding interest over time can turn a little into a lot.”
Fidelity Investments is sponsoring daily webcasts during America Saves week to help educate retirement savers. Additionally, America Saves Week emphasizes a variety of topics on gaining financial wellness, from creating emergency funds and the elimination of debt, to saving for a home or college. Learn more here.