Board Grants Year-End “Bonus” to Participants

In the recent meeting of the Board of Directors of the Church of God Benefits Board, the entity charged with managing the Ministers’ Retirement Plan, action was taken to grant a special year-end interest allocation to all participants in the Trustees’ Fund. The Board has taken similar action in 2017 and in 2019.
Because earnings in the Trustees’ Fund were better than anticipated in 2021, this one-time allocation of interest was approved by the board to be distributed in late December. Each participant with an investment in the Trustees’ Fund will receive a special interest allocation on a pro-rata basis. The allocation is expected to amount to over 2.27% of the participant’s investment in the Trustees’ Fund. For example, a participant with $1,000 in the Trustees’ Fund will have approximately $22.72 in interest added to their account while a person with $100,000 in the Trustees’ Fund will receive approximately $2,272. The pro-rata amount that each person receives will be based solely on the amount that person has invested in the Trustees’ Fund – and will not take into consideration the balances in the equity investments.
With the additional interest of 2.27%, the effective rate for the Trustees’ Fund in 2021 will exceed 6.27%.  
In making this announcement of the special year-end interest allocation, Board Chairman Mark Walker also announced that the return on the Trustees’ Fund for 2022 will continue to be at four (4%) percent. In a time when fixed return rates remain at a historical low, the Board determined that it was extremely fortunate that the Ministers’ Retirement Plan can continue to pay at a rate that greatly exceeds the market rate. While the Board has projected the rate for the Trustees’ Fund to remain at four percent in 2022, it is possible that the rate could change based upon market conditions.
Since the retirement plan is a non-profit entity, all earnings, outside of an allowable reserve, must be passed on to participants. With earnings greater than expected in 2021, the one-time allocation announced today (Dec. 27, 2021) became the fastest and most economical way to make those additional earnings available to participants.
Chairman Walker also announced that the board is still offering an incentive bonus for new participants who join the plan. For any new participant, the plan will match dollar-for-dollar the contributions made in the first calendar year the participant is in the retirement plan, up to $500 per participant.
Participants are reminded that they may invest in three other options besides the Trustees’ Fund. The other options are all based upon stock funds and fluctuate with the stock market. Your ability to withstand volatility should be taken into consideration before making any investment selection. Further, you should always remember that past performance is not a guarantee of future performance. To learn more about the Ministers’ Retirement Plan, please visit our website at


About benefitsboard

Art Rhodes is the President and CEO of the Church of God Benefits Board, Inc. - the administrator of the Ministers' Retirement Plan and the Church Loan Fund, Inc. The corporate offices of the Benefits Board are in Cleveland, TN.
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2 Responses to Board Grants Year-End “Bonus” to Participants

  1. Bruce says:

    Is there an age where I would be required to begin withdrawals ?

    • Withdrawals from your retirement account are mandated to begin at the age of 72 under current law. Legislation is pending to increase the age to 75 but has not yet passed.

      However, if you are still employed with the church, required distributions are postponed. For a minister, reporting that you are active signifies that you are still employed, regardless if you are in a pastoral role or not.

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