As you have probably heard in the news or read in various articles, our nation is facing a dilemma. Based on Time.com (March 14, 2016), 1 in 3 Americans have $0 saved for retirement and 56% of Americans have less than $10,000 saved for retirement. Consequently, more and more individuals will be relying solely on Social Security benefits and most likely will not physically retire but rather work somewhere in a part time capacity.
Though this is a distressing statistic, there is a silver lining. WE (CPS and YOUR ministry) can help alter the bleak outlook for the future by putting in place measures now that will support your workers in their future retirement needs. Your ministry may already have the Concordia Retirement Savings Plan (CRSP) aka 403(b) so to add the AutoSave feature will be very simple. If you do not have the 403b, it easy to adopt.
If you have any questions, please feel free to contact your Concordia Plans Service rep.