Indiana District Minister's Retirement Initiative

A Ministry of the Minister's Wellness Fund


The Indiana District Assemblies of God partners with our ministers and their churches to help them prepare for retirement.  We  assist our ministers and churches in retirement planning primarily in two ways: 

  1. Provide awareness, education and resourcing opportunities for church boards and ministers.
  2. Make quarterly retirement contributions from the Minister's Wellness Fund on behalf of qualifying ministers. 


To enroll in the program, please complete the steps below.

STEP 1

Enroll in the Indiana District Minister's Retirement Initiative


Let us know that you want to participate in the program!

Please complete the form below to begin the process of enrolling in the District Minister's Retirement Initiative.  Someone at IDAG will review your application for eligibility and notify you when you have been enrolled.


CLICK HERE TO ENROLL

STEP 2

Establish a 403(b) account

If you have an existing CEP or AG Financial 403(b), 

you do not need to open a new one to participate in the program.


However, if you do not have an existing 403(b) with one of these institutions, 

please select one and begin the process of setting up a 403(b).

Once completed, someone from the institution selected will contact you

with additional information and steps to open your account.


  • ENROLL WITH CEP


    Enter your information in the form and Church Extension Plan will begin the process of setting up your 403(b) account.


  • Enroll with AG Financial


    Enter your information to contact the Indiana consultant, Chris Teague, CFP.  This will begin the process of setting up your 403(b) account.

Frequently Asked Questions

Q: When will the retirement initiative take effect?

A: The program will begin January 1, 2025.  Minister's who have enrolled by December 15, 2024 will receive their first quarterly 403(b) contribution in April 2025.  


Q: How does the program work?

A: Once a minister has opened an account and enrolled in the program, the Indiana District Assemblies of God Executive Presbytery will contribute quarterly an equivalent of 20% of the qualified minister's tithe into their established 403(b) with either CEP or AG Financial. Quarterly contributions are made on behalf of the minister in the month following the completed quarter.


Q: How can I enroll in the program?

A: Complete the enrollment form above in Step 1.  Open a qualifying 403(b) account in Step 2 above at either Church Extension Plan (CEP) or AG Financial. 


Q: If I already have a 403(b), can I use it?

A: If you have an existing account with the two authorized providers (CEP or AG Financial), then you do not need to do step 2 above.  If you have a 403(b) with another provider, you will need to open an additional one with either CEP or AG Financial in Step 2 above to qualify for quarterly contributions.


Q: How do I know whether I qualify?

A:  Ministers who qualify for the program must meet the following requirements: (1) Must be a Licensed or Ordained AG minister in the Indiana District; (2) Must be a minister in good standing, which includes contributing faithfully your full tithe (10% of the minister's income from all sources) in support of district ministries; (3) Must have an account at either CEP or AG Financial; (4) Must enroll in the program by completing the online or paper form.


Q: Does this program apply to AG World Missionaries, AG US Missionaries, Certified Ministers, Chaplains, or Senior Retired Ministers?

A: Ministers in these categories generally do not qualify for the program.  Please contact the Executive Secretary's office with questions regarding eligibility for the program.


Q: Can I choose the funds I want within my 403(b)?

A: Yes. CEP and AG Financial have many investment options available for you to choose from. The Indiana District does not provide financial advice or advisors.  However, CEP and AG Financial can help guide you on fund selection.


Q: What if I am already maxing out my retirement contributions?

A: We ask that our ministers monitor their own contribution limits and work with their church boards to determine the best course of action in order to meet IRS requirements. 


Q: Since the Indiana District is not my employer, how can they make contributions on my behalf?

A: The IRS Code 403(b)9 allows denominations, conventions and church associations to make contributions on behalf of their members. Both CEP and AG Financial have created programs for AG districts that have been developed and vetted by their attorneys. Currently, over 30 AG districts in the United States make contributions to qualified 403(b) accounts on behalf of their ministers.


Q: If I transfer out of the Indiana District, what happens to my account?

A: A 403(b) account is your account and it is portable.  While you would no longer qualify for participation in the Indiana District program, your 403(b) will remain. You can contact your new district or network for information about what program they may offer. 


Q: I am over 70 years old.  Does this program apply to me?  

A: If you meet the requirements for the program and are in active ministry, you may enroll.  If you have an existing 403(b) account with either CEP or AG Financial, you may use this account for the program. However, if you do not have an existing account, you may open one with only CEP.  AG Financial does not permit ministers to open a new 403(b) account after they turn 70 years of age.


Q: Our church board would like more help in structuring our pastor's pay and benefits.  Does the Indiana District provide assistance or training for church boards?

A: Absolutely, yes!  We are thankful for the opportunity to meet with your leadership, either in person or by a virtual meeting to help them work through the process of designing their compensation and benefits.  We also provide broader training resources for ministers and church boards regarding church governance and administration, legal and financial matters, policies, and risk management.  Please contact our office for more information.


Q: How will the contributions from the district be reported to the IRS on behalf of the ministers enrolled in the retirement initiative?

A: The Indiana District will provide a W-2 annually from the Indiana District to the IRS for each minister who receives 403(b) contributions from the district.  These contributions will appear in Box 12. The church should not add these contributions to the minister's W-2 from the church.


Q: Am I allowed to switch between the two endorsed providers or do rollovers?

A: This is allowed only one time per calendar year.