Contributions to the Unitarian Universalist Organizations Retirement Plan

Effective January 1, 2013, the maximum total annual contributions may equal 100 percent of the employee's annual taxable earnings to a limit of $51,000.

Because ordained ministers may receive part of their distributions after retirement as a tax-exempt clergy housing allowance, it is generally very advantageous for clergy of all denominations to maximize their retirement savings through denominationally-sponsored plans.

Eligibility and Participation

Employer Contributions are Primary

• Unlike in typical 401(k) plans, the primary contributions into the Unitarian Universalist Association (UUA) Plan are made by the employer congregations.
• The employer congregation must contribute the same percentage of salary for each employee. 
• The UUA Fair Compensation Guidelines (PDF) recommend an annual retirement plan contribution of 10 percent of cash salary (for clergy: cash salary plus clergy housing allowance).
• Employees whose congregation does not make at least a 10 percent contribution, may not make their own voluntary contribution.

Employee Contributions

• Employees of congregations that contribute at least 10 percent for each employee, may then also make their own voluntary employee contribution; see Salary Reduction Agreement, below.
• For calendar year 2013, employees may contribute up to $17,500 ($23,000 if age 50 or older).

Forms

A Contribution Remittance Form must accompany all contributions sent to TIAA-CREF.

• Employees who wish to make voluntary pre-tax contributions may do so if their employer congregation makes at least a 10 percent contribution for each participating employee.  
• The employee(s) completes a Salary Reduction Agreement (PDF), in order to authorize that voluntary contributions be withheld from their wages and forwarded to TIAA-CREF. 
• Keep a copy of the signed, dated Salary Reduction Agreement in the employee’s permanent personnel file.