Retirement Readiness Resources 

The Eder Financial Retirement Plan is a church plan described in section 403(b)(9) of the Internal Revenue Code.The Internal Revenue Code permits denominations and churches to set up retirement plans designed to save tax dollars now and in the future. Our retirement plan allows you to take full advantage of these tax savings, while at the same time providing you with several different investment options for your money to grow.

Get The Retirement Plan Handbook Here

The Internal Revenue Service establishes annual limitations on contributions you and your employer can contribute to your 403(b)(9) retirement plan each year. You can find more information on limits to contributions here: Contribution Limits

Elective deferrals include both pre-tax and designated Roth contributions an employee makes to an employer-sponsored retirement plan such as a 401(k) or 403(b) (Code § 402(g)).  
 
*If you are a clergy member who claims a high percentage of your compensation as housing allowance, check with your clergy tax preparer for the maximum you may contribute to the plan. 
 
The IRS annual contribution limits for your 403(b) retirement plan are significantly higher than what can be contributed to an IRA. For comparison, the annual limit for IRA contributions in 2024 is $7,000 for those under age 50, and $8,000 for those age 50 or older. 

You may contribute additional funds to your Retirement Plan beyond the elective-deferral contribution limit if you are aged 50 or older by the end of the calendar year. (Code § 414(v)) 

 For 2024 and 2025, the maximum catch-up contribution amount is $7,500 for those aged 50 or older. 

The total annual contribution, including pre-tax, tax-paid, and Roth contributions, from both an employee and an employer cannot exceed $69,000 in 2024, and $70,000 in 2025. The contribution limit is the lesser of $69,000 (for 2024) or $70,00 (for 2025), or 100 percent of your pay (Code § 415(c)). 

 *If you are a clergy member who claims a high percentage of your compensation as housing allowance, check with your clergy tax preparer for the maximum you may contribute to the plan. 

The maximum dollar amount is $345,000 that can be considered when calculating retirement benefit contributions (Code § 401(a)(17)).