Dictionary of Benefit & Investment Terms

Ownership in buildings and land, as well as rights to the air above and the earth below.

Redistributing assets among options.

Withdrawal of formal acknowledgement of status, such as by a denomination.

Status formally acknowledged, such as by a denomination.

If MMBB plan membership has been inactivated because of delinquent payments, a reversal can occur within a six-month period as long as the employer pays the total amount due from the time of the inactivation through the current month’s premium. Upon receipt of the payment, death and disability benefits will be restored retroactive to the inactivation date.

A member who elects not to convert his or her entire Retirement Plan, TAS , TDA, and/or DECA account into an annuity at retirement may leave the remaining balance invested and it will continue to share in MMBB’s investment experience. The member can direct the investment of his/her account balances using MMBB’s investment choices. The member may convert some or all of any remaining balances into additional annuity income at a later point. Remaining account balances are still available to the member for loans and withdrawals. Government regulations require that the member receive an annual minimum amount (required minimum distribution ) of the remaining account balances beginning by April 1 of the year following the year in which the member reaches age 70 1/2.

At MMBB, the status of a retiree who is receiving an annuity.

An MMBB retirement plan member who has converted part or all of his or her account to an annuity.

Retirement Plan means the American Baptist Churches Retirement Plan, effective January 1, 1980, as the same may be amended from time to time.

At MMBB, the member’s account from the retirement portion of the Benefits for Life program.

The increase or decrease in the principal value of an investment, usually expressed as a percentage rate on an annualized basis.

At MMBB, Benefits for Life membership that was inactivated due to delinquent payments can be reversed if the employer or personal payor pays the total amount for the months not paid, including the current month during which the payment is sent to MMBB. Upon receipt of payments, death and disability benefits will be restored, retroactive to the inactivation date. If the premium is more than six months in arrears following the last month for which invoices were paid, membership inactivation cannot be reversed. Reinstatement of membership is the only option.

A condition in which there is a possibility of loss.

How much investment risk an investor is willing to accept in exchange for potential return.

Payment of all or part of an eligible rollover distribution from a plan to an individual retirement account or to another employer’s qualified plan that accepts rollovers. If the rollover is made within 60 days of the distribution, federal income tax on the distribution (other than any mandatory tax withholding that was done before the distribution was made) will be deferred until benefits are paid from the new plan.

An amount consisting of premiums or contributions and their earnings, which is rolled over, directly rolled over or transferred to The Annuity Supplement for the benefit of the member.

Funds rolled into MMBB accounts from traditional IRAs, 401(k)s, and other qualified retirement accounts.

In the past, RP was the abbreviation for the Retirement/ Death Benefit Plans. Now that those plans have been renamed as the Benefits for Life program, the abbreviation only applies to the retirement portion of the program, the Retirement Plan.