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:
MMBB’s disability coverage offers a combination of benefits you are unlikely to find elsewhere:
As soon as you become aware that your employee is disabled, please contact MMBB.
Additional features of the death benefit includes:
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.
To enroll an employee, have them complete a Membership Application. You may obtain this form by calling MMBB at 800.986.6222 or emailing email@example.com. Mail completed forms to:
MMBB Financial Services
475 Riverside Drive, Suite 1700
New York, NY 10115-0049
See A-1 FORM