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MMBB Offers Three Unique Retirement Benefit Plans

What’s the difference between the three MMBB retirement benefit plans? 

Employers may choose to offer one plan or combine plans to give employees more options.

The Comprehensive Plan is our most complete offering that combines retirement benefits, disability insurance and life insurance all in one convenient package. The plan’s retirement benefits provide lifetime income through a variable annuity. Disability benefits provide income while you’re unable to work so you can support yourself and any dependents if you become disabled. The group term survivor benefit  is immediately payable to your spouse or beneficiary, is based on your age at the time of your death and your reported compensation. The Comprehensive Plan allows your staff to enjoy peace of mind while serving and financial security in retirement.

The Retirement Only Plan is easy to start, flexible, affordable and grows with you as your benefit needs evolve. MMBB can create a plan similar to your existing plan or help you construct a new plan tailored to meet your church’s or organization’s needs with features like vesting and occasional contributions. 

The Member Contribution Plan allows your staff to take their future into their own hands and contribute to the lifestyle they want to create in retirement. With easy, pre-tax payroll deductions, over time, even small contributions can be enough to increase retirement income. The Member Contribution Plan may be offered as a primary plan or along with the Comprehensive and Retirement Only Plans to provide an opportunity for members to contribute additional funds toward their retirement savings.

The Comprehensive Plan and the Retirement Only plan are employer-paid plans that allocate contributions to the employee’s retirement account. The Member Contribution Plan offers members an opportunity to contribute to their retirement savings on a pre-tax basis.

Learn more about the MMBB Retirement Benefit Plans.

 

 

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