FAQ’s

1. Is my organization eligible for MMBB benefits?
2. How affordable are MMBB Plans?
3. Can our organization offer matching plans?
4. Can our organization incorporate vesting schedule into our MMBB retirement plan?
5. What does MMBB charge to set up and maintain a retirement plan?
6. What kind of financial planning services does MMBB provide to our staff?
7. Are MMBB retirement benefits eligible for the clergy housing allowance?

Q1: Is my organization eligible for MMBB benefits?
A1:  Churches and organizations that are part of the free church movement can participate in an MMBB plan. Please contact MMBB to confirm that your organization is eligible for MMBB benefits. In addition, MMBB is the official provider of retirement benefits to the following denominations.

• Alliance of Baptists
• American Baptist Churches USA
• Baptist General Convention of Missouri
• Evangelical Association of Reformed and Congregational Christian Churches
• General Baptist State Convention of North Carolina
• International Council of Community Churches
• National Association of Congregational Christian Churches
• National Baptist Convention of America
• National Baptist Convention USA
• National Missionary Baptist Convention of America
• Progressive National Baptist Convention
• United Holy Church of America

Q2: How affordable are MMBB Plans?
A2:  MMBB Financial Services offers plans that can be tailored to any church budget. We can:

• Construct a matching plan that combines employer and employee contributions. You set the match!
• Set up a plan that allows your organization to make a one-time contribution or contribute at any dollar amount or percentage of compensation. You decide!
• Employ vesting and other plan features. Whatever meets your needs!
• Offer the Member Contribution Plan as a stand-alone retirement plan. At no cost to your organization!

MMBB does not charge any fees to set up or administer your plan.

Q3: Can our organization offer matching plans?
A3:  Yes. Through the Retirement Only Plan, your organization can offer a matching plan at any level you choose.

Q4: Can our organization incorporate vesting schedule into our MMBB retirement plan?
A4:  Yes. Through the Retirement Only Plan, your organization can institute a vesting schedule. MMBB may be able to recreate a vesting schedule you may already have in place.

Q5: What does MMBB charge to set up and maintain a retirement plan?
A5:  MMBB Financial Services sets up and administers all retirement plan needs for your organization and your staff at no charge.  This includes responsibility for the day-to-day processing of member transactions including the enrollment of new members, allocation of contributions and daily maintenance of your organization’s account and your staff’s accounts. If you have any questions, we provide personal service. Just send an email to service@mmbb.org or call 1.800.986.6222 to speak with one of our Senior Benefits Specialists.

Q6: What kind of financial planning services does MMBB provide to our staff?
A6:  MMBB provides a full range of financial planning and educational services to your staff at no charge as a benefit of membership. We take great pride in having assembled a staff of benefit specialists who are available to your staff to guide, listen, answer questions and work with them to develop a plan through which they can reach their financial goals. In addition to our financial planning services, MMBB offers a variety of educational opportunities:

• Financial Calculators
• Webinars on a wide range of topics
• Retirement Planning Seminars held throughout the country

Q7: Are MMBB retirement benefits eligible for the clergy housing allowance?
A7:  Yes. Income from MMBB retirement plans paid in retirement is eligible for the clergy housing allowance.