Defined contribution

The Converge Retirement Plan can help you develop a comprehensive plan that provides lifetime income, so you can retire when you’re ready.



Grow your "nest egg"

Creating many income streams has become more important as part of an overall retirement strategy. The purposed of the Defined Contribution Plan, also known as the Supplemental Plan and similar to a 401(k) or 403(b), is to build a separate "nest egg" which can be used to supplement the income provided by a pension. Contributing to the Defined Contribution Plan requires you to put in your own money. Pre-tax employer contributions to the Defined Contribution plan can be made after pension contributions are made. Additionally, if you leave a job before retirement age, you may take the money saved in a Defined Contribution Plan and roll it into a qualified IRA.

The IRS allows at least $19,500 per year in voluntary contributions to the Defined Contribution plan. If you are 50 years old or older, you can contribute more. You may contribute pre-tax dollars to the Defined Contribution plan by completing a voluntary salary reduction agreement.

In the event of a qualified hardship, money from the Defined Contribution plan can be withdrawn before age 60, but will face significant penalties from the IRS. Because of the combination of losing growth of your money over time and the IRS early withdrawal penalty, we strongly encourage you to consider early withdrawals a last resort.

How to get started
Managed by investment professionals, the Converge Retirement plan has provided lifetime income to Converge churches, pastors and missionaries since 1967. Don't get surprised at retirement—whether it's around the corner, or decades down the road. Whatever your situation, it's not too late to start saving.

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Ready to get started or have questions?
Email Barb Wright or call 1.888.984.8433.




   2022 2021 2020 2019
Annual return-12.82%17.01%11.87%20.87%
5-yr avg.6.32%12.03%10.34%8.01%
10-yr avg.8.68%11.27%9.44%9.70%
15-yr avg.7.24%8.58%8.48%8.16%
20-yr avg.8.72%8.96%7.86%7.15%
25-yr avg.7.78%9.00%8.82%9.27%

I encourage every church to make such provisions for their pastors.

John Piper, Founder and Leader of Desiring God