Retirement Solutions

How to prepare your workers for retirement

Today the paycheck they earn from you helps them pay their bills and provide for their families, but there will be a day when they transition into retirement. Their expenses will continue, but now they’ll need retirement paychecks.

By offering your workers the right benefits, you can help them build a secure retirement. Our flexible retirement plans allow you to craft a retirement package that is right for your workers and your ministry’s budget with the combination of a pension benefit and a retirement savings 403(b) plan. Together these plans are the building blocks that provide a solid foundation for a dignified quality of life throughout their retirement years.

The Concordia Retirement Plan pension – benefits provided by you!

The CRP is a pension plan, funded by you, that provides your workers with income when they retire. There are two benefit options from which your ministry can choose – the Traditional Option that provides a monthly pension benefit throughout your worker’s retirement and an Account Option that provides a more portable account-based retirement benefit.

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The Concordia Retirement Savings Plan 403(b) – an opportunity for workers to be proactive!

You can choose to offer the CRSP along with your retirement pension benefits, providing your workers a flexible and dependable way to save for their retirement.

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The industry standard suggests that people should set aside 15% of their pay to maintain a reasonable standard of living through retirement. Our retirement solutions offer a combined approach – the pension benefit of the CRP with your workers’ savings in the CRSP. It’s a great way to work together to achieve this goal.

In addition, we’ll help your workers understand their benefits by encouraging them to engage with our many financial wellness resources, from online, user-friendly financial tools to one-on-one conversations with our Financial Wellness Educators. Benefits and education provide a comprehensive approach to helping your workers prepare financially for retirement.


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