Non-ERISA church defined benefit plans require a special expertise from their actuaries. These plans are sometimes referred to as non-electing church plans because a church must elect to have its plan subject to the provisions of ERISA. For coverage and nondiscrimination, the rules that were in place prior to ERISA are the rules that must be followed.
Many actuarial firms specialize solely in ERISA plans, but Nyhart has a large number of church plans giving us insight into the unique needs and issues churches face in offering a pension.
The funding policy used by church plans varies depending upon the organizational goals. Many plans fund on a fixed percentage of pay basis, while others fund on an uneven basis. Devising a sound funding policy is a strength of ours because of our strong actuarial expertise.
Services Nyhart provides the following services to church plans
Nyhart provides actuarial and administrative services to some of the largest church plans in the country. We have clients across many different religious organizations, and provide expert advice regarding design, implementation, funding and administration of their plan.
Each client at Nyhart has a dedicated team of actuaries, plan advisers and support staff. We provide you direct access to your team so your questions and issues can be handled confidentially by a team who knows your pension plan and can help resolve your issues.
Do you have a church plan question? Please call us at (317) 845-3500 or email us at email@example.com today and we will be in touch quickly.