Concordia Retirement Plan
While retirement is different today than the past, the Concordia Retirement Plan (CRP) is still a dependable, valuable option for ministry workers. All full-time workers who are employed by an enrolled LCMS employer are eligible for enrollment in the CRP.
No two employers have the same needs, and so the Concordia Retirement Plan offers two benefit options: the Traditional and the Account option. These different plans make sense for different types of employers. For a better understanding of these options, contact a Benefit Consultant today.
Traditional Option - Regular Basis: 8.7% of total annual compensation
Traditional Option - Full Basis: 11.7% of total annual compensation
Account Option - Eligibility Waiting Period - 0% (no contributions due)
Account Option - Non-Vested Worker Rate - 5.7% of total annual compensation
Account Option - Vested Worker Rate - 8.7% of total annual compensation