Pensions


Help them retire well

At Concordia Plan Services, we walk alongside your ministry to provide your workers with a retirement paycheck for life – for their years of service and the years to come.

Designed specifically for LCMS workers, the Concordia Retirement Plan pension provides a reliable monthly benefit. It’s the financial security they need to enjoy a well-deserved retirement after a lifetime of service in His name.

Even though the business world has abandoned pensions, we continue to strengthen ours so we can care for your workers today and into retirement. Your ministry can focus on spreading God’s Word, while our dedicated team of professionals manage your workers’ retirement.

TALK TO AN ACCOUNT MANAGER TO LEARN MORE


How does a pension work?

When eligible workers retire, they’ll receive monthly pension income benefits for the rest of their lives. If they pass away first, payments continue to their surviving spouse.

As an employer, you contribute to the pension on behalf of your workers. Those funds are then pooled together with funds from other LCMS ministries and invested to provide the pension benefits promised to workers.



Two benefit options

You can choose the Traditional Option, or a combination of both the Account and Traditional Options.

The Traditional Option

The Traditional Option provides a lifetime monthly pension benefit to vested workers (those with 5 or more years of service). Their benefit is primarily based on:

  • Final average monthly compensation
  • Years of service
  • Retirement date

This monthly income will continue throughout the worker’s retirement. The longer a worker is employed by an LCMS ministry and enrolled in the Plan, the higher their pension benefit will be.


The Account Option

The Account Option provides a notional account balance that grows through:

  • Annual compensation credits (based on the worker's salary)
  • Annual interest credits Interest credits continue even if the worker leaves. A benefit is payable to vested workers (those with 3 or more years of service).

The Account Option offers a balance of retirement income and flexibility, making it a good fit for employers whose workers do not typically spend their entire careers within the LCMS.

Manage my ministry

Current employers can navigate their ministry's benefits, learn from tutorials and more.

Manage Plans

Watch our webinar
Exploring the Essentials of the Pension


Pension benefits – making a difference.

Testimonials are Concordia Plans retirees and their stories have been adapted for length.

“My pension supplements my income, allowing me to comfortably fulfill my calling to bring the Gospel to public school students in my community. Combining my pension with my Social Security allows me to live out my passion, using the skills I developed as a Lutheran teacher for many years.”
- Rebecca T., Mid-South District

“It gives me great peace of mind to know that I have a solid pension to rely on … In a world sometimes filled with uncertainty I am blessed to be secure in my faith and financially well cared for in my retirement years.”
- Steve and Karen Z., Northern Illinois District

“The Concordia Retirement Plan pension is an important part of the whole puzzle. I believe in REFIRE and not RETIRE and so the pension (and other pieces) provide a foundation that allows for serving the church at large. The pension is a huge blessing and part of retirement … “
- Stephen S., Texas District

Why should you consider offering the Concordia Retirement Plan?

CONCORDIA RETIREMENT PLAN BY THE NUMBERS: 2025
PARTICIPATING MINISTRIES 3,765
ACTIVE MEMBERS 29,766
RETIREES AND SURVIVING SPOUSES RECEIVING BENEFITS 29,064
VESTED WORKERS WHO ARE NOT YET RECEIVING BENEFITS 15,761
TOTAL PLAN ASSETS $4.4 BILLION
PENSION BENEFITS PAID TO RETIREES AND SURVIVING SPOUSES $363 MILLION