How Geneva Benefits Group helps pastors plan for retirement
In our research, we found that 70% of PCA pastors are not confident that they have enough savings for retirement, and therefore need to plan for retirement. As many PCA pastors reach retirement age, Geneva helps the most pressing cases with financial aid through the Relief Fund. However, Geneva is also working hard to prevent this situation from arising for future pastors.
As PCA pastors think about planning for retirement, we recommend taking three steps:
Meet with a retirement planner
It is 100% free to meet with a Geneva retirement planner. Many of them are pastors themselves and can relate to the financial situation many ministry families face. It can be daunting to discuss personal financial information with another person, but it also leads to reassurance: retirement planners can help you develop a plan to make progress on your financial goals and needs.
Consider Geneva’s retirement plans, made for all kinds of ministry workers
Geneva’s suite of investment options offer special benefits for ministers, foreign missionaries, and lay-staff. Our church-based 403(b)9 retirement plans and free financial planning support you in reaching your financial goals.
Integrate your retirement plan with your call package
Building and maintaining a call package should be a collaborative, annual process between pastors and sessions. It should include evaluation of salary, but also of benefits like retirement, insurance, and wellbeing. For more information on call package development, read this article.
Geneva Benefits Group serves those who serve others, providing practical support for the financial, physical, and mental wellbeing of people who work in full-time ministry.
