News & Articles
News
Summer 2020 "News & Notes" Newsletter
Matching Grant Still Available | Enrollment Windows for Retirement Plan and Benefit Plan | Reminders for Changes to Personal Information and Updates for Beneficiaries
Article
The Corrective for Volatility in Investments? Think long-term!
Most of us have heard the age-old advice for investing: “Buy low; Sell high”. While that adage may be accurate in its simplicity, it’s a mistake for most of us to pursue it as our big aim.
News
CARES Act Provisions Available through Retirement Plan - UPDATED 6/25/2020
The CARES Act has added two temporary provisions that are now included the FCMM Retirement Plan for 2020.
Article
Managing Financial Life After Opting Out of Social Security
Four critical areas for financial planning of the SS-opted-out minister.
News
FCMM Office Moves to Limited Schedule - March 17
Contingency plans have been activated to best serve FCMM members.
News
Lifetime Fund (Option C) Rate for 2020 - UPDATE for April 2020
Option C provides a steady return, based on long-term portfolio objectives.
Article
Considering Opting Out of Social Security? Critical Issues to Review
Many young pastors, learning of the self-employment tax rate for clergy, have found mention by a colleague or a tax preparer of the option for a minister to be exempted from the tax and from the government insurance programs to be enticing. The minister should carefully consider the long-term implications of the irrevocable action.
Article
Ministers' Pay Essentials
Certain tax rules are unique to ministers. It's important for ministers and churches to understand how ministers' compensation is to be handled.
Article
Tax Booklets Available for Download (2020)
Two 2020 booklets for clergy and church tax matters are available for downloaded.
Article
Quick Guide to Tax Reporting for Retirement Distributions - 1099R
Basic information for handling 1099-R information for tax filing
Article
Approaching age 72? Here's what you need to know about RMDs...
Starting by the year you reach 72, the IRS requires you to begin subjecting a portion of your deferred retirement savings to possible income tax.
News
Retirement Plan Contribution Limits for 2020: Overall and Deferral Limits Increased
The IRS has announced that contribution limits to retirement plans for 2020 will increase for the salary deferral limit by $500 and for the overall limit by $1,000.
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