Employee Contributions
New Participant Information Form
Fill out this form to notify our team that you’re interested in joining the retirement plan and provide us with your contact information, which we’ll use to set up your online account.?Note that this process only sets you up within our system; you?will also need to?login to your account and make beneficiary and investment elections.
Salary Deferral Agreement
Please use this form to elect how much of your salary you would like to defer into your retirement plan.
ACH Authorization for Employee/403(b) Contributions
?This form confirms how much and when contributions withheld from your paycheck should be remitted to the retirement plan by your church (employer), through the Willow Grove office.?These contributions take place via ACH, and this form requests important banking details for making these transactions. Please note this form does not set up the withholding on your paycheck, this needs to be handled by your church treasurer.
Key Factors to Consider for Employee Contributions
Use this “cheat sheet” to learn the five important factors you must consider when setting up contributions to your retirement plan.
Plan Participation Agreement
Each local church who has a pastor or employee contributing to the retirement plan must sign a Participating Employer Agreement, which confirms that the local church has agreed to follow the rules of the plan set up by the OPC. A copy of the Summary Plan Document (rules of the retirement plan) is included below, under “Standard Plan Documents.”
Group Life Insurance Form
Historically, OPC has offered $20,000 of group life insurance within the retirement plan.?Each participant who elects this coverage pays ~$130 per year in premium, which is considered taxable, and appropriate tax forms are issued each year.?This set-up will be reviewed in 2017; however, this remains an option under the current plan for the time being, and the form allows new participants to sign up for group coverage should they desire to do so.
Please send all scanned paperwork to:
Or, paper submissions to:
Committee on Ministerial Care
Attn. Mark Stumpff
607 Easton Rd, Bldg E
Willow Grove, PA 19090-2539
