News
Christian Health Plans from GuideStone
As 2023 draws to a close, it’s time to lock in your ministry health plan for 2024. You can take care of your team with medical coverage through a...
Monthly Option C Fair Market Value Adjustments in 2022-2023
For cash distributions or transfers from Option C, a Fair Market Value (FMV) adjustment is in effect for any month for which the preceding month...
2023 Distributions Request Deadline is December 11
Requests for distribution, rollout, or conversion of FCMM Retirement Plan funds must be received no later than December 11, 2023, to qualify as 2023...
Summer 2023 "News & Notes" Newsletter
The current issue of FCMM News & Notes, Summer 2023, is available at the link below.Contents: FCMM Website Has Answers | Benefit Plan Open...
Expect 1099R via mail in February
Retirement Plan members who took distribution(s) of any type (i.e. payment, withdrawal, required minimum distribution, rollover, conversion) from...
Retirement Plan - Rate and Fees for 2023
Option C Lifetime FundThe FCMM Board of Trustees has set the rate of earnings for the Lifetime Fund (Option C) of 2% for 2023.Option C is a...
Retirement Plan Contribution Limits (2023): Annual Additions Limit and Deferral Limit
The IRS limits the amount of money that may be contributed to retirement plans. These limits are updated annually. There are two main types of...
Alert Regarding State-Run Retirement Programs
In an effort to broaden retirement plan access to employees whose organizations do not offer an employer-sponsored retirement plan, several states...
Updating Personal Information
To ensure your requested transactions and various account communications are timely, and to assist with keeping your FCMM account secure, it is...
Retirement Plan Offers Matching Program
In partnership with the National Association of Evangelicals (NAE), FCMM has launched a contribution matching program in 2019 for EFCA pastors newly...
Steps to Access Statements Online
Here are the steps to view online quarterly statements. Please click on the Account Access link that appears at the top line of FCMM's website.Log in...
Articles
Sources of Retirement Contributions: EmployER and EmployEE
There are two sources for contributions sent to an employer retirement plan, such as the FCMM Plan:
(1) EmployER Contributions and(2)...
What are "Roth" contributions to retirement funds?
As with many other retirement plans and individual retirement accounts (IRAs), the FCMM Retirement Plan permits contributions that are classified as...
Tax Books Available for Download
Two PDF tax books are available at the links below for download from FCMM: Minister's Tax & Financial Guide and Church & Nonprofit Tax &...
Changing Investments within the Retirement Plan
While the strategy of “buy and hold” has proven to be a reliable principle over long time periods of investing – especially when the funds are well...
Roll-out of Funds from Retirement Plan: Factors to Consider
The FCMM Retirement Plan (RP), designated as a 403(b)(9) Church Plan, offers good value and flexibility for Members. In addition, FCMM...
Quick Guide to Tax Reporting for Retirement Distributions - 1099R
Question: I received a 1099-R from FCMM for my retirement distribution(s) for the last year. Where do I enter this information on my tax return?After...
Completing the W-2 for Retirement Contributions
To prepare W-2s for our church employees, where does retirement contribution information go?Download this one-page guide that explains the...
Managing Financial Life After Opting Out of Social Security
Note: This article is the final of a series of three about critical issues in compensation and planning for pastors. The Fall 2019 issue of News...
Considering Opting Out of Social Security? Critical Issues to Review
Note: In the Fall 2019 issue of News & Notes (article also available here) I reviewed how ministers are paid and treated by the Internal Revenue...
Ministers' Pay Essentials
The Internal Revenue Service (IRS) recognizes as ministers those who are credentialed by a religious body, have authority to conduct religious...
Video workshops on Minister Tax and Finance
Two similar recorded workshops are available on the topics of minister pay and tax matters.Clergy_Tax_Finance_Intro-2016-narrated-Mix from FCMM on...
