OVERVIEW Day-to-day challenges keep most churches and ministries struggling to keep up, let alone thinking ahead to the future. But for pastors, their thoughts at some point must turn to what their life will be like after they retire. The congregations they serve should help them do that. All churches should considering implementing retirement plans for their pastors. Careful consideration must be given on a variety of topics, ranging from the right plan to adopt to the tax implications of a parting gift. The following four handouts will provide: 1) overviews on the options to consider with various retirement plans; 2) rules to understand before selecting a plan; 3) strategies that can provide attractive, tax-sheltered income during retirement years; 4) and rulings that have shaped the definitions of tax-free gifts. We hope this material helps you plan for your pastor’s future, providing him or her with security long after the peak days of service to the church have passed. HANDOUTS Designing a Retirement Plan Important considerations for setting up a pastor’s retirement strategy. Clear Definitions Understand pastoral roles and tax advantages to correctly choose retirement plans. Understanding Rabbi Trusts How this strategy can provide attractive, tax-sheltered retirement income for pastors. Retirement Gifts How the church should report cash and gifts given to pastors at retirement. Further Resources Books, downloads, and websites to help you plan your pastor’s retirement. ADDITIONAL INFORMATION Type: Download Pages: 10 Copyright: 2007 RELATED PRODUCTS The 2007 Church & Clergy Tax Guide The 2008 Church & Clergy Tax Guide Employment and Tax Status of Clergy Manage Your Church's Financial Future |
