Pensions and Benefits USA is joining with its partner, Fidelity Investments, to encourage ministers and church boards to set aside more money for retirement through the Nazarene 403(b) Retirement Savings Account Plan during America Saves Week, February 27 through March 3.
Nearly 1,700 organizations participate in this annual emphasis to promote good savings behavior. It also provides a time for individuals to assess how well they are doing in saving for the future.
Investing for retirement — even in small amounts — can impact the quality of life after an active career, and ministers have an excellent opportunity to do this and receive tax advantages through the Nazarene 403(b) Retirement Savings Plan.
“There is no minimum limit on the amount participants may contribute to our retirement savings plan with Fidelity Investments,” said Don Walter, director of Pensions and Benefits USA. “Like their counterparts in other careers, young ministers often think they have little to invest for retirement, so they don’t, but the power of compounding interest over time can turn a little into a lot.”
Fidelity Investments is sponsoring daily webcasts during America Saves Week to help educate retirement savers. Additionally, America Saves Week emphasizes a variety of topics on gaining financial wellness, from creating emergency funds and the elimination of debt, to saving for a home or college. Learn more here.