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's 403(b)(9) Plan offers two types of savings opportunities for our employees: Traditional vs. Roth Contributions

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 they have the employee has been auto-enrolled on the Principal site. Employees will then need to 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 that 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 your 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.  

Reliant automatically will contribute a $50 403(b)(9) employer match from the MTD account for which you employees are responsible into your the retirement account upon reaching participation eligibility. 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. The match is paid directly from the MTD account the employee is responsible for with Reliant and it does affect your the employee support goal. You Employees will need to submit a new support goal to reflect any changes to your their contributions. See See Employer Matching Contributions for more details.   

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.

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

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