Salary Reduction Agreement (Fillable PDF) A Salary Reduction Agreement is an agreement between the employer and employee under which the employee takes a reduction in salary for the purpose of participating in the Plan. The participant must sign a new agreement each time he/she seeks a change in the amount withheld through the Salary Reduction Agreement or he/she changes employers. A copy of this form must be on file with the Board of Retirement before we can accept any Salary Reduction contributions on behalf of the employee.
INSTITUTIONAL INVESTING
Enrollment Form With this form, you open an institutional investing account with the Board of Retirement. It is vital that you:
Complete the enrollment form in its entirety.
Choose your investment option(s).
Your account will become active once your first investment is made.
Election Change/Investment Transfer We offer flexible investment options to help you reach your retirement goals. You can find more information about our Investment Options here. The Default Fund will automatically be the option for those who do not direct all or part of their funds to one of the options. In order to make election changes or transfer your funds between investments, you will need to login to your online account and select “Make Changes” in the menu. For more information about how to navigate the participant website, you can check out the participant website guide.
Investment Selection Form (PDF) – If you are unable to change your elections online, please contact our office and we will send you a form.
LIFE INSURANCE
Retirement Plan Life Insurance Enrollment Form
Group term life insurance is available through Guardian Insurance Company for retirement plan enrollees who are under 65 years of age. Our group term life coverage through Guardian has two requirements that must be met for participation. The insured must be gainfully employed by a Free Will Baptist church or agency, as well as have contributions that exceed the $16.50 premium each month. Contributions can be from the participant, the participant’s employer, or a combination of the two. The Basic Term Life Coverage is $25,000. The monthly premium of $16.50 is deducted from the contributions to your retirement account. For more information regarding this Group Term Life Insurance, you can check out the Life Benefit Summary.
Voluntary Life Insurance Enrollment Form
This group life insurance is available to any employee of a Free Will Baptist church, school, or agency. You have a choice of up to $100,000 in Voluntary Term coverage. Guardian offers life coverage protection at economical rates. Rates are based on your age and coverage amounts. Premiums can either be paid monthly by bank draft or quarterly by check. You must be employed by a FWB employer to maintain this coverage. For more information regarding this Voluntary Term Life Insurance, you can check out the Life Benefit Summary.
