Help employees enroll in the Retirement Savings Plan

October 07, 2019
The Retirement Savings Plan helps your employees build a foundation for retirement readiness and financial well-being. Here’s how to help them get started.

The Retirement Savings Plan of the Presbyterian Church (U.S.A.) offers employees an important savings tool that can help them build greater financial security for retirement. With both tax-deferred and Roth after-tax contribution features and a range of investment choices, the Retirement Savings Plan is an easy, convenient way for your employees to grow savings for their long-term goals.

Getting started

The Retirement Savings Plan is funded by employee and/or employer contributions and administered by Fidelity Investments. Any employee may participate, regardless of hours worked, if their employer offers the plan — even if the employee is not offered any other coverage through the Board of Pensions.

The Retirement Savings Plan Employer Toolkit offers a variety of resources you can use to encourage employees to save for the future. From plan descriptions, investment options, and fund performance to emails, flyers, and handouts, the toolkit has everything you need to build awareness and manage the enrollment process.

The Fidelity enrollment guide (Your Guide to Getting Started) includes information to help participants decide how much to contribute, and how to choose investments that best suit their individual circumstances and financial goals. You can request a copy of the guide by calling the Board of Pensions.

Helping employees enroll and save

Employees must complete two forms (found in the Fidelity enrollment guide) to enroll in the Retirement Savings Plan:

Send completed Fidelity Investments Enrollment Forms to Fidelity at the address on the form, and keep Salary Deferral Agreements for your records (do not return these to the Board or Fidelity).

Making contributions

As an employer, you can also make contributions on behalf of your employees — as a match to their contributions, an employer contribution, or both. All contributions are subject to annual IRS limits.

For details on remitting contributions to Fidelity, follow the steps in the Retirement Savings Plan Guidelines for Church Treasurers and Business Administrators, in the Retirement Savings Plan Employer Toolkit. If you have questions, call Fidelity’s treasurers assistance line at 800-917-4369.

Not currently offering the Retirement Savings Plan?

You can choose to offer the Retirement Savings Plan to your employees at any time. Call the Board at 800-773-7752 (800-PRESPLAN) to learn more.