FREQUENTLY ASKED QUESTIONS
ADVOCATING FOR YOU
The follwing are some Frequently Asked Questions about Church Benefits Board:
1. What is Church Benefits Board?
Created by the Cooperative Baptist Fellowship in 1998, the Church Benefits Board is the exclusive administrator of the CBF 403(b) retirement plan. CBB also offers other benefits such as life, disability and medical insurance, plus other benefits for ministers, church employees, and employees of other CBF-affiliated organizations.
2. Who is eligible for CBB benefits?
Employees of any church or organization contributing to CBF are eligible. CBF-endorsed chaplains, ministers in transition and evangelists are also eligible. However, because the retirement plan is a 403(b), it is limited to nonprofit organizations. Some other benefits may be available for ministers or chaplains employed by for-profit entities.
3. What benefits does CBB provide?
Besides retirement, CBB offers:
- Life and Disability Insurance
- Medical Insurance
- Missions Trip Insurance
4. Is the CBB retirement plan an annuity? Does CBB directly invest my money?
No. The Church Benefits Board is an advocate for ministers and employees of the local church or nonprofit organization. CBB has an agreement with Retirement Wealth Management, Inc. for advisory services and StanCorp financial Group, Inc. as plan provider for retirement benefits.
The CBF 403(b) offers you choices about how to invest your money. Like the popular 401(k) investments, you can choose where and how to invest your retirement with nationally-recognized investment funds.
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