Retirement planning might not be a Sunday sermon topic… but it shapes your team’s future as much as any ministry decision you’ll make.
If you’ve ever tried picking a retirement plan for your church staff, you know it’s not as simple as checking a box. It’s a balance between stewarding church resources wisely, caring well for your team, and finding something that doesn’t eat up your time or budget.
The good news? You don’t need to wade through hundreds of plan types. In fact, there’s one designed just for churches — the 403(b)(9). It’s built with your mission in mind and comes with unique benefits you won’t find in a typical 401(k).
But here’s the catch: not all 403(b)(9) plans are created equal. The right provider won’t just hand you a stack of investment options — they’ll guide you, answer your questions, and help your team feel excited (not overwhelmed) about their future.
That’s why we’ve put together 11 smart questions every church should ask when choosing a retirement plan provider — so you can make a confident, well-informed decision that truly serves your staff and your mission.
Plan type and federal regulations
Question #1: Is this retirement plan designed specifically for churches?
We’ve already discussed how 403(b)(9) plans are designed specifically for churches. If you’re considering other plan types (like 401(k)s), keep in mind that these plans do not have as many benefits for churches as a 403(b)(9) does. No matter what plan you choose, you want to make sure the plan provider understands churches and the unique benefits churches should be able to receive.
Read our blog on the difference between 401(k) church plans and 403(b)(9) plans to help you make a stronger decision on the type of plan that’s best for you.
Question #2: Is this plan ERISA-exempt?
One of the first things you’ll want to understand about your church’s retirement plan is whether it falls under ERISA or is considered non-ERISA. As a fiduciary, knowing which category your plan is in directly impacts your responsibilities, compliance requirements, and potential liability.
If you’re looking at going with a 403(b)(9) plan, here’s the good news: 403(b)(9) church plans are typically non-ERISA, which can mean less administrative burden on you. That includes no Form 5500 filing, no annual audits (even with 100+ participants), and no costly discrimination testing. That adds up to significant time and cost savings for your team.
What’s the difference between ERISA and non-ERISA? Read all about it here.
Fees and transparency
Question #3: What are the retirement plan fees—both visible and hidden?
Unfortunately, many retirement plan providers make it extremely difficult to identify exactly how much you’re paying and what you’re paying for (often referred to as hidden retirement plan fees). Make sure you get a breakdown of all fees, and find a plan provider who is honest about all fee transactions. All retirement plans cost money, but if you’re not educated on the specific fees within the retirement plan, you may be paying too much.
In this blog, we provide a full breakdown of all retirement fees plan providers could be charging.
Investment options
Question #4: What investment options are available to plan participants?
A good plan should offer a range of diversified, low-cost investments suitable for various risk levels and retirement timelines. When asking plan providers for a proposal, make sure they provide a full line-up of the funds they offer.
Question #5: Do you offer biblically responsible investment (BRI) options?
Would you like the option to have funds that line up with your biblical values? For faith-based organizations, this often matters. That’s why it’s important to ask if the fund lineup includes BRI options.
Here’s a blog that breaks down why you may want to consider biblically responsible investments for your retirement plan.
Flexibility and customization
Question #6: Can the provider tailor the retirement plan to your organization’s needs?
When a retirement plan customizes features based on your church’s size and goals, it means the plan isn’t a one-size-fits-all package—it’s personalized to meet your church’s unique needs.
Here’s some ways this can happen:
- Maybe you’re looking to boost participation. Make sure the plan offers automatic enrollment or financial education.
- Looking to attract and retain employees? Ask if the plan includes features like matching contributions.
- Need flexibility to decide who is eligible to participate in the plan? 403(b)(9) plans offer the employer the flexibility to determine eligibility. This means they can decide who participates in the plan by establishing restrictions, such as age or years of service.
For more on 403(b)(9) flexibility, read our blog on why 403(b)(9) plans are best for churches.
Participant experience and education
Question #7: Can the provider tailor the plan to your organization’s needs?
Retirement planning can feel complicated, especially to those who have no training or experience in the area. You want to find a plan sponsor who helps employees learn the ins and outs of retirement, provides one-on-one guidance, and offers easy-to-use tools to manage their accounts.
Visit TruthPoint’s retirement planning resource center to see the educational articles that we offer.
Question #8: Is the user experience (UX) intuitive and accessible for all staff members?
Good education is important, but so is having a user interface people actually want to use. If logging into the retirement plan and making changes to contributions is not smooth, participants will get easily frustrated (and rightfully so). So make sure the retirement plan account user experience is easy to understand and seamless.
Tax-savings benefits
Question #9: What do you know about housing allowance benefits for ministers?
Housing Allowance is a big tax-savings benefit for ministers who are ordained, licensed, or commissioned. It gives them the ability to receive part of their salary for housing allowance purposes, which is excluded from gross income and not subject to federal income tax. If you’re looking for a 403(b)(9) church plan, always make sure the plan provider understands housing allowance and can help your church pastors benefit from it.
To learn more about housing allowance for pastors, visit our blog here.
Plan administration and customer care
Question #10: What administrative responsibilities does the provider handle, and what responsibilities fall on the plan sponsor?
Retirement plans involve administrative tasks like recordkeeping, compliance testing, disclosures and notices, and tax reporting (like Form 5500). Make sure you understand what falls under your responsibilities—and what doesn’t. Remember, non-ERISA plans do not have to file Form 5500, resulting in no annual audits for plans over 100 participants, discrimination testing, or form preparation. This saves both money and time.
Question #11: What kind of ongoing service and support do you provide?
Does the provider offer onboarding sessions, provide educational tools, and give friendly, personal retirement planning guidance along the way? Many providers disappear once they’ve onboarded a plan. Make sure you find a provider that treats you and your employees with ongoing care and attention.
Your church matters to us
When everything is said and done, a good retirement plan provider should feel like a ministry partner, not a vendor. They’ll take the time to answer your questions and show care and attention throughout every step of the process.
At TruthPoint Financial, our mission is to provide personal care and attention to every plan we serve—not only easing worries around the complicated topic of retirement, but also helping participants feel excited for their futures.
If you’re ready for a retirement plan provider that understands your unique needs and always puts you first, give us a call. We’d love to learn more about you and your ministry.