As our name suggests, Geneva Benefits Group is a part of the reformed tradition. That means our decisions are directed by Scripture and guided by our church documents, even in financial matters like church staff compensation packages. But when it comes to enrolling a church staff in a retirement plan, it can be difficult to know where to start.
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.
For fifty years, Geneva Benefits Group has administered the Ministerial Relief Fund on behalf of the Presbyterian Church in America (PCA). The first General Assembly of the PCA established this committee to manage retirement and benefits of the newly formed denomination and to develop a program to “meet the needs of ministers and other workers in the church in an adequate manner.”
You may have heard that very soon, PCA Retirement & Benefits (RBI) will be offering a ‘lifetime income’ solution in the PCA Retirement Plan. This new and innovative type of longevity annuity is known as a ‘Qualified Longevity Annuity Contract’ (QLAC). A QLAC is...
Gary Campbell CFA® - Investment Specialist
One of the most difficult financial challenges many families face is how to convert retirement assets into an income stream that lasts for a lifetime. RBI’s Financial Planning Advisors hear stories like the following. Jerome and Nancy, a family of five, are nearing...