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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*.

There is no minimum limit on the amount participants may contribute to the retirement savings plan with Fidelity Investments. Young ministers often think they have little to invest for retirement, so they don’t invest at all. But the power of compounding interest over time can turn a little into a lot.

Ministerial contributions to the Nazarene 403(b) Retirement Savings Plan reduce the amount of taxable income for the year they are deposited. When funds are withdrawn at retirement, they may then be received as tax-free housing allowance.

Beyond this, many ministers are eligible for Annual Pension Supplement (APS) contributions to their accounts from Pensions and Benefits USA. This helps their accounts to grow even more.

Fidelity Investments has provided this calculator to illustrate how setting aside small percentages of salary on a regular basis can affect retirement savings.

To get started investing for retirement through the Nazarene 403(b) Retirement Savings Plan, all it takes is a visit to this page at Fidelity Investments to create a Personal Identification Number (PIN), and the completion of a Participation Agreement form by the church treasurer.

*Note: Investing involves risk, including the risk of loss. Before investing in any mutual fund or exchange-traded fund, you should consider its investment objectives, risks, charge, and expenses. 

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