It’s Your Call
By Dr. Jerome V. Harris, Executive Director
All personal retirement accounts vested under the AME Church Ministerial Retirement Plan are exclusively owned by the ministerial participant. The final approval of all distributions is the sole responsibility of the executive director, in accordance with the requirements stipulated in the governing Plan Document. For reasons of confidentiality, personal account information will only be discussed with the owner/participant. Please contact the Department of Retirement Services should you have any questions regarding your eligibility to request a distribution or any other questions regarding your personal retirement account.
Personal retirement account statements are mailed to all participants to the address of record for each quarter ending March 31, June 30, September 30, and December 31. Each statement has three designations.
Level One is the category that reflects any voluntary contributions received in the respective quarter. These are contributions made from sources other than those provided by the local church or district being served. These are “make up” contributions and are limited to participants who are 59½ years of age or older.
Level Two is the category that reflects contributions provided by the local church to which participants are assigned. This contribution is based on 1/12th of the pastor’s annual salary and is credited following each annual conference and mid-year meeting when received by the Department.
Level Three is the category that reflects yearly contributions made by the Connectional church, in December, under the AMEC Retirement Plan for Pastors and Presiding Elders. Contributions are based on a pre-established formula in accordance with the 403(b) Plan regulations.
Please note: The maximum limit for all contributions in 2018 is $18,500 under the current federal regulations. It’s your call!
