Benefit Accumulation Account
Pension Plan members and spouses and holders of Tax Deferred Retirement Accounts may have a Benefit Accumulation Account. This instrument of additional savings provides individuals an excellent avenue of saving after tax dollars.
Any amount may be used to open a Benefit Accumulation Account. A 4.25% annual interest rate is credited quarterly. Good Experience Credits may be added each March 31 following the applicable year based on the earnings of the total fund. The extra credits are calculated on the average daily balance.
No fee is charged for the first withdrawal each month. For the second and each additional withdrawal during that month, a $10.00 fee per withdrawal is charged. (For persons receiving regular monthly pay-outs from the account, the first withdrawal will be any special request beyond the regular one.) A $7.00 service fee will be assessed in addition to any express or courier-type mailing fee or bank wire fee when these special services are used.
Account Information
The eligible member must be either primary or secondary owner of a joint account. A joiner must be related to the eligible member as spouse.
A Benefit Accumulation Account works just like a regular savings account.
Accumulations may be used to purchase an Additional Benefit Annuity to supplement retirement, survivor or disability income.
Accumulations may be used for payout arrangements for the Pension Fund Salary Continuation Death Benefit.
Accumulations may be used as an emergency fund, to provide for children's education, down payment for homes, homes in retirement or any other purpose.
Remittances to existing accounts may be made to the following address:
Pension Fund of the Christian Church
(Disciples of Christ)
PO Box 660225
Indianapolis, IN 46266-0225
Tax Deferred, IRA & Benefit Accumulation Accounts Earned Interest Rates 1984 - 2008