Concordia Retirement Savings Plan       Email   Print

Benefits for workers enrolled in the Concordia Retirement Plan and Concordia Retirement Savings Plan will be changing effective July 1, 2014. The information here applies through June 30, 2014. To learn about the changes to benefits, click here.


Workers participating in The Church’s Plan package of benefits through their LCMS employer can save for retirement through the Concordia Retirement Savings Plan (CRSP).

The Concordia Retirement Savings Plan is a 403(b) tax-deferred savings plan with a matching contribution component. This provides workers with an opportunity to establish a personal retirement savings account to supplement their retirement income from the Concordia Retirement Plan.

Workers whose employers are enrolled in The Church’s Plan, and who are members of the Concordia Retirement Plan are eligible to participate in the CRSP. MetLife will send information on enrolling in the CRSP through their website. Workers can use the Salary Deferral Form to designate the amount contributed each paycheck (effective the first day of the following month).

A 403(b) tax-deferred savings account under the Concordia Retirement Savings Plan allows workers to:
    • Save for retirement with pre-tax dollars
    • Grow money on a tax-deferred basis
    • Diversify a retirement savings portfolio

Basic Match: The Basic Match automatically matches 50% of the first 2% of a worker’s total compensation (up to 1% of his or her total compensation). This program is funded by the employer’s monthly contributions to The Church’s Plan, and the match money is automatically added to the worker’s account at the end of each quarter. Workers receive free money, just for saving for retirement!

Optional Match: Employers have the option to provide an additional match for their workers. They can elect to match 50% of the next 2% or 4% of compensation contributed by their workers (in addition to the 2% already being matched).