What’s the difference between the three MMBB retirement benefit plans?
Employers may choose to offer one plan or combine plans to give employees more options.
The Comprehensive Plan is our most complete offering that combines retirement benefits, disability insurance and life insurance all in one convenient package. The plan’s retirement benefits provide lifetime income through a variable annuity. Disability benefits provide income while you’re unable to work so you can support yourself and any dependents if you become disabled. The group term survivor benefit is immediately payable to your spouse or beneficiary, is based on your age at the time of your death and your reported compensation. The Comprehensive Plan allows your staff to enjoy peace of mind while serving and financial security in retirement.
The Retirement Only Plan is easy to start, flexible, affordable and grows with you as your benefit needs evolve. MMBB can create a plan similar to your existing plan or help you construct a new plan tailored to meet your church’s or organization’s needs with features like vesting and occasional contributions.
The Member Contribution Plan allows your staff to take their future into their own hands and contribute to the lifestyle they want to create in retirement. With easy, pre-tax payroll deductions, over time, even small contributions can be enough to increase retirement income. The Member Contribution Plan may be offered as a primary plan or along with the Comprehensive and Retirement Only Plans to provide an opportunity for members to contribute additional funds toward their retirement savings.
The Comprehensive Plan and the Retirement Only plan are employer-paid plans that allocate contributions to the employee’s retirement account. The Member Contribution Plan offers members an opportunity to contribute to their retirement savings on a pre-tax basis.
Learn more about the MMBB Retirement Benefit Plans.
Thank you for joining the MMBB mailing list. You will begin to receive information soon.
Translations of any materials into languages other than English are intended solely as a convenience to the non-English-reading public. We have attempted to provide an accurate translation of the original material in English, but due to the nuances in translating to a foreign language, slight differences may exist.
Las traducciones de cualquier material a idiomas que no sean el inglés son para la conveniencia de aquellos que no leen inglés. Hemos intentado proporcionar una traducción precisa del material original en inglés, pero debido a las diferencias de la traducción a un idioma extranjero, pueden existir ligeras diferencias.
You will be linking to another website not owned or operated by MMBB. MMBB is not responsible for the availability or content of this website and does not represent either the linked website or you, should you enter into a transaction. The inclusion of any hyperlink does not imply any endorsement, investigation, verification or monitoring by MMBB of any information in any hyperlinked site. We encourage you to review their privacy and security policies which may differ from MMBB.
If you “Proceed”, the link will open in a new window.
Back to Top
Next