Retirement Savings Plan

The Retirement Savings Plan of the Presbyterian Church (U.S.A.) (RSP) is a
403(b)(9) plan administered by Fidelity Investments. Low annual fees coupled with institutional pricing of the investment options make saving on a tax-advantaged basis through the RSP an easy way to improve financial readiness for retirement.​

couple with retirement jar

The RSP is a convenient, easy way for employees to build savings for a more secure future. Features of the plan include the following:

  • allows you to contribute pretax and Roth after-tax dollars to your account up to the IRS limit;
  • permits your employer to contribute to the plan on your behalf;
  • offers a range of investment choices, including a fossil fuel-free global environmental fund, socially responsible investment options, and target date funds;
  • allows you to borrow from your RSP account balance through a loan feature; and
  • provides investment tools and resources through Fidelity, including a brokerage window (Fidelity BrokerageLink) and managed accounts (investment advice through Strategic Advisers Inc., a Fidelity affiliate).

Eligibility

All employees are eligible to participate in the RSP if their employer offers the plan to them. Ministers in Pastor's Participation, a comprehensive benefits package designed to meet the needs of ministers and their families, must be enrolled in the RSP.

Contributions

You may contribute to your RSP account through convenient payroll deductions on a pretax basis, and also on a Roth after-tax basis.

  • Pretax contributions: Federal taxes on contributions and earnings are deferred until you receive distributions. That means your investment could grow faster than if it were in a taxable account.
  • Roth after-tax contributions: Contributions are taxed as ordinary income. Earnings accrue on a tax-free basis. All withdrawals of Roth contributions are tax-free. Withdrawals of qualified Roth earnings, as defined by the IRS, are also tax-free.

You may contribute up to the annual limits determined by the IRS. You are immediately 100 percent vested in all employer and employee contributions made to your account.

Investment options

Twelve investment options span the risk spectrum, including socially responsible options and a fossil fuel-free global fund, with an additional 13 target date funds. You may invest in any of the available funds in one percent increments. You also can change your investment elections for your future contributions and/or existing account balances at any time.

Fees

Fidelity deducts a quarterly fee of $3.75 from each RSP participant's account. This fee is used to help offset administrative expenses.