Plan Options

As both a ministry and a financial organization, MMBB Financial Services understands how important it is for a faith-based organization to recruit and retain top staff. We understand how important it is for the staff of faith-based organizations to feel financially secure so they can put their full effort into the ministry.

That’s why our plans have been tailored to be affordable and flexible. No matter the size of your budget, MMBB Financial Services offers plans that meet your needs.

MMBB offers three retirement plan options.

The Comprehensive Plan is an employer-funded, tax-deferred 403(b) retirement plan that includes a retirement savings plan, disability coverage and a death benefit. Your church or ministry pays a monthly premium based on a percentage of the employee’s total reported compensation.

As of January 1, 2017, the allocations for the Death and Special Benefits Funds of the Comprehensive Plan premiums have changed. Effective January 1, 2017, the allocation for the Death Benefit changed from .75% of premium to 1.00%. The allocation for the Special Benefits Fund was changed from 1.25% to 1.00% of premium. The remainder of the premium used to provide employees with Retirement Benefits remained unchanged. The changes to allocations were made to better reflect activity in those funds.

This plan includes:

  • Retirement benefits — The Comprehensive Plan provides income that lasts as long as you live. Lifetime income is provided through a variable annuity. The MMBB Financial Services variable annuity is designed to help your income keep pace with inflation.
  • Disability income — Disability coverage is available to those participating in the Comprehensive Plan. In conjunction with governmental disability and retirement benefits, MMBB’s disability coverage replaces a percentage of employees’ pre-disability compensation while they remain disabled as defined by the plan. The disability benefit MMBB offers protects the member as well as the employer.

MMBB’s disability coverage offers a combination of benefits you are unlikely to find elsewhere:

  • Monthly allowances for dependent children under 21
  • Continued death benefit coverage
  • Continued contributions to employees MMBB retirement account
  • Annual cost of living adjustment
  • Continuation of eligible employer provided group health insurance

As soon as you become aware that your employee is disabled, please contact MMBB.

  • Death benefit—The Comprehensive Plan includes a death benefit if your employee is an active member. Upon notification of death, the benefit paid depends upon age at death and the MMBB reported compensation.

Additional features of the death benefit includes:

  • An accidental death provision that provides the beneficiary with an additional benefit equal to 100% of the member’s compensation.
  • Living benefits for the terminally ill—If a member is terminally ill and expected to die within two years, they may apply to receive an early payment of up to half the value of the group term death benefit. The balance is payable upon death.
  • Child allowances—If a member dies while they are an active participant in the Comprehensive Plan, each eligible child will receive a monthly cash benefit for support. The benefit continues until the dependent child turns 21.
  • Medical insurance—The member’s spouse and children may be eligible to have two years’ worth of premiums paid if they were already covered by the members’ employer provided medical plan.

The Retirement Only – Employer Contributions Plan is a stand-alone employer-funded tax-deferred 403(b) retirement savings plan. It can be customized with flexible vesting and matching options.

The Member Contribution Plan – Employee Contributions Plan is an employee-funded, 403(b) retirement savings plan. The employee makes pre-tax contributions via a Salary Reduction Agreement. After-tax contributions are also accepted.

Your monthly invoice lists the plans in which you are currently participating. See the sample invoice on the premium payment page.

Your monthly invoice lists the plans in which you are currently participating.

Complete a Membership Application for each employee


To enroll an employee, have them complete a Membership Application. You may obtain this form by calling MMBB at 800.986.6222 or emailing service@mmbb.org. Mail completed forms to:

MMBB Financial Services
475 Riverside Drive, Suite 1700
New York, NY 10115-0049

See A-1 FORM