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403(b)(9) General Overview

Reliant now offers a 403(b)(9) retirement plan option (previously 401(k) was offered) to eligible employees. We have chosen the 403(b)(9) option which is a retirement church saving plan managed by Principal Financial Group. Just like many 401K/403B plans Reliant's 403(b)(9) retirement plan has a matching incentive. Reliant will match funds (up to a certain percentage) that their employees contribute to the 403(b)(9) plan. The matching incentive is designed to motivate employees to contribute funds to the retirement savings plan. Reliant Missionaries are 100% vested from the point they start contributing to the 403(b)(9) Plan.  


Reliant's 403(b)(9) Plan offers two types of savings opportunities for our employees: Traditional vs. Roth Contributions. Reliant auto-enrolls employees in the traditional contribution. Employees may opt to change to the Roth or give additional contributions to Roth as well as Traditional. 

Employees who have worked for Reliant at least 90 days are eligible to begin participating in the plan. Upon becoming eligible to participate, employees will be auto-enrolled in the 403(b)(9) plan at a $50 employee contribution amount (see Enrollment & Eligibility). Upon reaching eligibility, Reliant will send an email stating the eligibility date has arrived and that the employee has been auto-enrolled on the Principal site. Employees will then need to register on the Principal site in order to access their Principal account. If an employee wishes to make any changes to the contribution amount or type of contribution, the changes will need to be done through their online account with Principal after Reliant has informed them that their eligibility date has arrived. 

To change a contribution see Changes to Contributions. Contribution changes must be submitted to Principal by the 19th to then be effective on the following month's paycheck. Principal informs Reliant of any changes for payroll.

Reliant also offers an employer match of $1 for every $1 employees contribute to the 403(b)(9) plan, up to a maximum of 5% of their eligible earnings. Upon reaching participant eligibility, Reliant automatically will contribute a $50 employer match from the MTD account for which employees are responsible into the retirement account. (See Employer Matching Contributions - Class 1, Career Employees for more details.) The match is paid directly from the MTD account the employee is responsible for with Reliant and it does affect the employee support goal. Employees will want to submit a new support goal to reflect any changes to their contributions made on the Principal site. 

Withdrawals can made from the 403(b)(9) Plan Retirement account. (See Withdrawal (Age 59 1/2 or Higher) and Withdrawal as Parsonage (Age 59 1/2 or Older )). Withdrawals made prior to age 59½ may incur tax penalties.

Reliant employees are also eligible to receive a 403(b)(9) loan. (See Loan Guidelines)

For questions or additional information about Reliant's 403(b)(9) retirement plan please contact payroll@reliant.org. 

Reliant's 403B Contract Number

Reliant's Contract Number with Principal is 4-76065 

Reliant's 403B Contract Number


Table of Contents

Who to contact at Principal

  • General Help Line — should get you to a live person (counselor option near end of message): 800-547-7754
  • Electronic Services Support Line: 877-475-3436
  • For international callers who can't use a 1-800 number please call 515-248-9999.

Questions?


Email: payroll@reliant.org

Phone: 407-720-5481

Department: Payroll


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9 Comments

  1. Mike Swann

    Unknown User (christine.stitt@reliant.org) and Barb Seckler, could this page also have a quicklink to principal.com. 

    All this information above is great, but it would probably good to have a "Need to make a change to your withholdings? Click here"

    1. Barb Seckler

      Mike Swann - I'd want Unknown User (ed.courtney@reliant.org) to weign in on that because the "design" of this was supposed to be links to solomon pages not actual text I thought. 

      1. Mike Swann

        A lot of times we have put some "introductory information on the landing page."

        Since this is the first place it goes to when you click 401(k) on staffnet, it would be nice if it had some "quick links" to the websites

  2. Mike Swann

    Actually Barb Seckler, we might consider putting the info from 401(k) General Overview at the top of this page, with the Table of Contents under it. Unknown User (ed.courtney@reliant.org), what do you think?

  3. Unknown User (ed.courtney@reliant.org)

    Barb Seckler Mike Swann What do you guys think about something like this? It's similar to what Christine did on Reimbursements Old. If we did this, we could even get rid of 401(k) General Overview.

  4. Barb Seckler

    Unknown User (ed.courtney@reliant.org) looks good to me - but we may want to add a quick link for how to change their contribution - that's one mike specifically asked about.  Want me to add that here or on the 401(K) overview? I'm not sure how you linked this

     

    1. Unknown User (ed.courtney@reliant.org)

      You can add it on this page. Under Related links at the top of the second column.

  5. Barb Seckler

    Done, i added in the text and as a link.  ok Mike Swann - does this make you happy?

  6. Mike Swann

    Barb Seckler and Unknown User (ed.courtney@reliant.org), this is awesome!!