News & Articles
News
Option C Fair Market Value Adjustment Not Required for Cash Distributions in August 2022
Option C is designed for steady long-term earnings to be fully applied to a Monthly Income Benefit ("annuity"). Other forms of cash distribution may incur a market value adjustment when the investment portfolio value is less than annuitizable accrued value.
News
Option C Fair Market Value Adjustment Is in Effect for Cash Distributions in July 2022
Option C is designed for steady long-term earnings to be fully applied to a Monthly Income Benefit ("annuity"). Other forms of cash distribution may incur a market value adjustment when the investment portfolio value is less than annuitizable accrued value.
News
Summer 2022 "News & Notes" Newsletter
Summer 2022 Issue of "News & Notes": Morally Responsible Investing | Payroll Service Phase Out | Increasing Employee Contributions
News
Alert Regarding State-Run Retirement Programs
A number of states have implemented, or are adding, requirements for employers to offer retirement plans. FCMM has reviewed and summarized the current status of these programs and highlighted follow-up research or actions churches may need to take.
News
Benefit Plan to Add New Features for 2023
Two new optional coverages: Short Term Disability (up to 90 days) AND Term Life Insurance equal to annual salary
News
Payroll Service to be Phased Out in 2022
FCMM Payroll Service ends its run as other providers have stepped up to better serve the unique needs of churches.
Article
Roll-out of Funds from Retirement Plan: Factors to Consider
As with most current Retirement Plans, FCMM allows both roll-out of funds to other retirement fund accounts and roll-in of funds within IRS rules.
News
Retirement Plan - Rate and Fees for 2022
FCMM's Option C Lifetime Fund is unique in offering long-term strategy for steady returns and "do it for me" simplicity.
News
Expect 1099R via mail in February
The retirement distribution tax form, 1099R, will be mailed at the end of January.
Article
Tax Booklets Available for Download (2022)
Two 2022 booklets for clergy and church financial and tax matters are available for download.
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ALERT for Retirement Plan Members: Notification Sent in Error
A letter received recently by many FCMM members was sent in error by a vendor of FCMM. Please disregard.
News
2021 Distributions Request Deadline is December 13
To request a qualified withdrawal, contact FCMM to obtain the form and then submit it timely.
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