The National Baptist Convention, USA, Inc. in partnership with MMBB (The Ministers and Missionaries Benefit Board) offers retirement plans, financial planning, compensation advocacy and tax planning guidance to churches, faith-based institutions, and their staff. MMBB serves over 5,000 churches and 18,000 members giving them peace of mind and financial security. MMBB shares our faith and supports our calling.
MMBB member testimonial:
MMBB offers 3 unique, affordable, and customizable retirement plans. Offer one, two or all three plans to your staff. You decide.
- Comprehensive Plan – A 403(b) employer-funded, tax-deferred retirement plan that includes: a retirement savings plan, disability coverage and a death benefit.
- Retirement Only Plan – A stand-alone employer-funded tax-deferred 403(b) retirement savings plan. It can be customized with flexible vesting and matching options.
- Member Contribution Plan – An employee-funded, 403(b) retirement savings plan. Your employee makes pre-tax contributions via a Salary Reduction Agreement.
A video description of MMBB retirement plans:
Financial planning is a benefit of MMBB membership offered at no cost. MMBB financial planning specialists can help you determine how much you’ll need to save for retirement. They can also help you formulate a plan that will show you how you can make your savings last in retirement. Financial planning specialists provide guidance on everything from budgeting to insurance to estate planning. They’ll help with strategies for debt management and repayment, creating an emergency fund and saving for the future.
A short video on the importance of Financial Planning:
MMBB also provides compensation advocacy and tax planning resources. They offer thought leadership and advocate for fair compensation. When it comes to negotiating clergy compensation, MMBB supplies helpful tools to assist both pastors and church leadership with the process.
MMBB offers tax guidance for both churches and clergy. Available resources include reporting requirements for churches, guidance for clergy tax return preparation and information on the housing allowance in retirement.
More MMBB Testimonies
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