RETIREMENT BENEFITS
Our Congregation has adopted the Unitarian Universalist Organizations Retirement Plan (UUORP). The plan is an IRS qualified, defined contribution, 401(a)/(k) multiple employer, Church retirement plan designed to help ensure employees of UUA-related organizations have an opportunity to accumulate savings for their retirement years. Every employee is enrolled and can authorize Elective contributions (pre-tax salary reduction contributions) immediately upon employment, irrespective of hours worked or scheduled.
In addition, in keeping with the Employer’s Participation Agreement on file with the UUA Office of Church Staff Finances our Congregation contributes ____ percent of the employee’s gross wages for each of our employees who have met the Plan’s qualifications.
To be eligible for Employer contributions, the employee must satisfy the Plan’s Year of Eligibility Service provision: an individual must have a) worked a minimum of 1,000 hours during a twelve (12) consecutive month period defined in the Plan, or b) have successfully completed a UU Ministerial Internship.
If an employee is employed at more than one participating UU congregation, concurrently or consecutively, their hours of service must be combined to make the initial determination of eligibility to receive Employer’s contributions.
Per the governing Plan’s provisions, employees who previously received Employer contributions at another UU participating congregation or employer are immediately eligible for Employer contributions at our congregation.
The Congregation submits the employee information to the recordkeeper to start the enrollment process and provides a description of the plan to the employee at the start of employment. Each employee should review this material carefully and discuss any questions they may have with their Supervisor/Minister, with the Retirement Plan staff at the UUA, and/or with a trusted personal financial advisor.
When an employee incurs severance from employment, they are ineligible to make or receive contributions.
More information can be found at: https://www.uua.org/finance/compensation/retirement