Retirement Savings Account

SP RolloverRetirementAt the time of retirement and annuitization, you are given access to 100% of your own contributions and may withdraw up to 20% of the balance in your employer contribution account. You may transfer these funds to a Retirement Savings Account (RSA).

You will be able to manage your account in any of the 10 available investment funds (or in a combination of the funds):

 

These Funds, which were contributed in pre-tax dollars in the RSA, can be used as an alternative to a taxable cash withdrawal at the time of annuitization.

You may make withdrawals from your RSA. The minimum withdrawal is $500 or, if your balance is less than $500, the total balance of your account. Withdrawals are subject to a 20% Federal income tax withholding. You may also annuitize this account and receive additional monthly annuity payments. You will receive a Required Minimum Distribution annually when you reach age 70½ if you have not annuitized or withdrawn sufficient monies from the account.

If you are a minister who returns to work for a UCC church or related entity after annuitization, you may add to the RSA through pre-tax salary deductions and/or employer contributions.

If you are interested in enrolling in the RSA, click here for an RSA application and click here to download a Direct Request for Rollover form. If you already have established an RSA and wish to consolidate another account, please download a Direct Request for Rollover form.

If you already have an existing RSA and wish to withdraw funds, click here.

If you already have an existing RSA and wish to reallocate your funds, click here. You may also reallocate your accumulation balance by logging into your account under the My Benefits tab.

Click here for a copy of the Annuity Plan for the UCC plan document.

Note: If you are employed by an employer other than a UCC church, Conference, Association or National Staff, contact us for the appropriate plan document.