Converge wants all pastors and churches to be healthy so they can maximize their God-given potential to fulfill their mission. This includes health in the area of personal and church finances.
Thanks to our partnership with the National Association of Evangelicals (NAE) and the generosity of the Lilly Endowment, Inc. grant, Converge is making available free resources and retirement money for pastors and churches to help strengthen
and improve their financial health.
How it works
There are two parts of this benefit:
Financial Health for All:
NAE Financial Health is providing free financial health resources. As a pastor, you can use these resources to help you and your
church learn how to manage and grow your personal and church finances in a biblical and practical way. Start your own free account to access these resources.
Financial Health for Some:
In addition to financial education resources, Converge wants to help jump-start your retirement so you can plan for your future. Converge will contribute up to $2,500 to a pastor or church staff member to start
a retirement account through the Converge Retirement Plan (maximum of 2 new participants per church).
Upon completion of the requirements (see below), the church commits to contributing 6% of the pastor/staff member’s yearly salary into a pension (Defined Benefit). To help the church get started, Converge will contribute a portion of the 6% (up
to $1,500) for the first year.
After being enrolled in the plan for 12 months, the church will pay the full 6% of the pension and Converge will contribute $1,000 toward the pastor/staff member’s Defined Contribution Plan (403b).
If a pastor makes $50,000 per year, the church will contribute $1,500 and Converge will contribute $1,500 for a total of 6% to the pension in the first year. In the second year, the church will contribute the full 6% ($3,000) to the pension. Converge will then contribute $1,000 to start the pastor’s Defined Contribution Plan (403b).
Who is eligible?
- To be eligible, both the pastor/staff member and the church must meet the following conditions: A paid pastor or staff member working at a Converge church who are at least 23 years old and working a minimum of 1000 hours within a year and are
not currently enrolled in the Converge Retirement Plan.
- A Converge Church that does not currently have a pastor or staff member enrolled in the Converge Retirement Plan. Note: A church board/overseer member must also agree to the terms. A name will be needed for the application.
Also, make sure your spouse (if applicable) is aware of your participation.
How do I get started?
- Sign up using the online application.
- A Converge Retirement Plan Specialist will contact the pastor/staff member to confirm the enrollment requirements.
- The pastor/staff member must complete one of the following free NAE Financial Health courses. Evidence of completion is required.
- God is Your Provider Personal Finance Course
- Bless Your Pastor
- Bless Your Church
- 40 Day Generous Life Devotional
- The Pastor/staff member fills out the Converge Retirement Plan enrollment paperwork.
- After approval of paperwork, the church sends its first-year contribution to Converge. Converge then opens the retirement account and distributes the money into the pastor/staff member’s account.
Retirement plan grant details and criteria >