Retirement Planning Services

 

Defined Contribution Plans


Christian Brothers Services administers both 403(b) and 401(k) plans for Catholic Church employers.  These plans can be administered in a bundled approach or for larger employers they would have the option of an unbundled approach.  Christian Brothers Services has been serving the retirement needs of Catholic Church organizations for nearly 60 years.  Since there is not necessarily a one-size fits all solution, we can guide employers on what plan would be best for your organization based on your circumstances. 

403(b) and 401(k) Retirement Savings Plans – Turnkey Approach

Christian Brothers Retirement Planning Services administers the Christian Brothers Retirement Savings 403(b) Plan and the Christian Brothers Employee Retirement Savings 401(k) Plan. These plans cover the lay employees who work for Catholic organizations or dioceses.  A diocese could allow diocesan priests to save in the Plan.

In a turnkey approach, the administrative services are all encompassing. These services would include daily valued record keeping, online web access for both employer and employees, online quarterly benefit statements, communication materials, on-site meetings, all legal requirements for the plan and access to Vanguard investment professionals. Some employers may be subject to non-discrimination testing.  Christian Brothers Services can advise the employer how to avoid testing or can do the required testing for an additional fee.

403(b) Retirement Savings Plan (CBRSP)

The Christian Brothers Retirement Savings Plan is a 403(b) retirement plan which allows a participant to save for retirement on a tax-deferred basis. The employer can also contribute to the Plan through a matching and/or discretionary contribution, although there is no requirement the employer contribute to the plan (except in a safe-harbor plan). The employer can select from a range of eligibility and vesting options. Only employer contributions are subject to a vesting schedule since employee contributions are always fully vested. The participant has a number of investment options from which to choose, including socially responsible investment options. Administrative fees are charged in hard dollars, which is more cost-effective to the employee.

403(b) Fund Fact Sheets


401(k) Employee Retirement Savings Plan (CBERSP)

The Christian Brothers Employee Retirement Savings Plan is a 401(k) retirement plan which allows a participant to save for retirement on a tax-deferred basis. The employer can also contribute to the Plan through a matching and/or discretionary contribution, although there is no requirement the employer contribute to the plan (except in a safe-harbor plan). The employer can select from a range of eligibility and vesting options. Only employer contributions are subject to a vesting schedule since employee contributions are always fully vested. The participant has a number of investment options from which to choose, including socially responsible investment options. Administrative fees are charged in hard dollars, which is more cost-effective to the employee.

401(k) Fund Fact Sheets


403(b) and 401(k) Retirement Savings Plans – Open Architecture System

For larger Catholic Church organizations, typically those with 1,500 or more employees, Christian Brothers Retirement Planning Services also offers an open architecture system for our 403(b) and 401(k) plans,.  This approach provides an employer the flexibility to design their own investment line-up, either on their own or in consultation with an investment professional. The advantage in choosing Christian Brothers Retirement Planning Services for the unbundled approach is we have negotiated an extremely competitive recordkeeping cost structure with Vanguard, without requiring the use of their investments. We have also established a group trust through a major financial institution, which could provide the legal structure for the Plan, if needed, at no additional cost. As an employer, you also receive the best-in-class educational service that Christian Brothers Services has been providing to Catholic employers for nearly 60 years and world-class record keeping provided by The Vanguard Group.

403(b) & 401(k) Guide Sheet
 
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