Keller First Baptist Church Retirement Plan Proposal

The 403(b)(9) church plan is a defined contribution plan specifically designed for church organizations. You may have heard of the 403(b) plan, but this sub-section 403(b)(9) plan has a distinct benefit specifically for ministers. Similar to the ministers housing allowance while working, a minister can make withdrawals from their 403(b)(9) as a housing allowance at retirement. Participants can choose for the money to grow in a pre-tax investment using the traditional side of the plan, or a post-tax investment using the Roth side of the plan. Holding Christian values ourselves, we have a special place in our hearts for helping churches with their financial management. We want to help the church and it’s employees with their financial future.

You can expect us to see the participants in your 403(b)(9) plan every 6 months. During these visits, we want to connect with you, as well as provide  relevant, educational financial planning topics, including market updates, use of the Vanguard 403(b)(9) website, and even financial wellness for your team. We are more than happy to go over any questions or concerns from the participants and plan administrations.

There are three components to the administration, service and support of the 403(b)(9). This includes the Third Party Administrator (TPA), the Custodian, and the Financial Advisor. As the Financial Advisor, Dr. Lance currently uses Vanguard 403(b) services as both the TPA and the Custodian. This arrangement allows a clear communication channel between the TPA and Custodian. 

Expenses to the plan (paid by Keller FBC):

Third Party Administrator: Vanguard 403(b) Services$3,000.00 annual. A detailed proposal is included below. 

Fund Expenses (internal expenses for fund management):

Average Expense Ratio of .50% (including Vanguard Average Expense Ratio of .11% and Advisory Services of .39%). A Vanguard 403(b) Services Participant Brochure is included below.

Keller Baptist Church Proposal.pdf

Vanguard 403(b) Services_Participant Brochure.pdf

Next Steps:

Once the leadership at Keller First Baptist Church has had an opportunity to review this proposal, we would like to conduct a phone call or WebEx video conference to introduce Dr. Lance Hocutt and his dedicated team of professionals as well as answer any questions that you may have. Please reach out to us at your convenience.

We look forward to hearing from you. God bless!