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Pastors Learn about Financial Readiness for Retirement

By March 4, 2022No Comments

Mark Johnson speaks to a group of central Illinois pastors.

DECATUR, Ill.—Each month pastors from central Illinois Regular Baptist churches meet for prayer and fellowship and to share ministry ideas with one another. “Honestly, it’s just plain fun,” says Dave Fox, pastor of Grace Church, Springfield, Illinois.

For its March 1 meeting at Riverside Baptist Church, the group invited Mark Johnson, treasurer and controller for Regular Baptist Ministries, to present the GARBC 403(b)(9) Retirement Plan. The plan is available to all Regular Baptist churches and their staff members, with no up-front costs to participate.

“Setting up an effective retirement plan that complies with IRS regulations can be extremely complex and expensive for a church on its own,” Mark says. “A group plan offers simple, low-cost access to high-quality investments along with the services and features typically found in large organizations.”

By participating in the GARBC retirement plan, Mark says, “churches are making a strong investment in their pastors’ and staff members’ long-term financial security and fulfilling the Biblical mandate to honor their leaders and prepare prudently for the future.”

During a financial Q and A, Mark also answered the pastors’ questions, covering issues like designated-giving legalities and the pros and cons of IRAs.

“Mark’s knowledge of all things financial is off the charts!” Dave Fox says. “He’s a great resource for our fellowship, as he consults with and advises churches often. We’re blessed to have him serving our fellowship.”

To learn more about the GARBC 403(b)(9) Retirement Plan, visit retirement.garbc.org.