Category Archives: Retirees

No Self-Employment Tax on Retirement Income from Benefits Board

At tax time, the Benefits Board gets a lot of questions about the IRS Form 1099-Rs that are sent to participants in January showing the amount of the participant’s distributions for the previous year. The most common question regards whether … Continue reading

Posted in 02 - February 2015, Chaplains/Evangelists, Informational Manuals, Internal Revenue Service, Ministers, Retirees, Retirement Distributions, Tax Information | Leave a comment

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. … Continue reading

Posted in 12 - December 2014, Investments, Retirees, Retirement Contributions, Retirement Distributions, Stock Market, Withdrawals | Leave a comment

Does Your Will Control?

It is vital that everyone have a will, regardless if you are 30 years old or 75 years old. Wills are not just for senior citizens. However, you need to be aware that your will may not be the controlling … Continue reading

Posted in 04 - April 2014, Retirees, Wills and Estates | Leave a comment

Things to Do Before You Die

No one lives forever!! While that concept is known to everyone, some act as though they are going to live forever, never giving a thought to what would happen to their “estate” should they die. The common response is “I … Continue reading

Posted in Ministers, Retirees, Wills and Estates | Leave a comment

Important Tax Information for Retirees

If you are receiving benefits from the old Aged Ministers’ Fund, you will not receive an IRS Form 1099 from Lincoln National Life Insurance Company or the Church of God International Office. They will not send you anything – just … Continue reading

Posted in Form W-2, Internal Revenue Service, Ministers, Retirees, Tax Information | Leave a comment

Year-End Contributions to Your Retirement Account

All pension contributions received in the Board’s office prior to Noon (EST) on Monday, December 30, 2013, will be posted to the participant’s account and will apply against the participant’s 2013 contribution limits. Contributions received in this office on or … Continue reading

Posted in Chaplains/Evangelists, Ministers, Retirees, Retirement Contributions, Tax Information | Leave a comment

Rate on Trustees Fund Set at 4% for 2014

In the recent meeting of the Board of Trustees of the Church of God Benefits Board, the entity charged with managing the Ministers’ Retirement Plan, the return on the Trustees’ Fund was set at four (4%) percent. For the past five years … Continue reading

Posted in Investments, Ministers, Retirees, Retirement Contributions, Retirement Distributions | Leave a comment