Curtis D. Sharp
Executive Officer for Denominational and Public Relations
214-720-2127
Curt.Sharp@GuideStone.org

GuideStone’s Church Retirement Plan provides security

December 16, 2008

DALLAS — One of the most valuable benefits available to GuideStone’s Church Retirement Plan participants is the protection section benefits offered to eligible participants.

The benefits provide peace of mind for today while participants invest toward their retirement. The protection section, which is free to eligible participants in the Church Retirement Plan, includes a disability income benefit — up to $500 per month if the participant becomes disabled — and a survivor protection benefit of up to $100,000 — payable upon death to the participant’s family.

The numbers tell a moving story of lives touched during difficult times through participation in GuideStone’s retirement plan.

• Since 2002, GuideStone has paid out more than $30.4 million in disability benefits to almost 1,500 retirement participants who were no longer able to work.
• An additional $29.9 million was paid in survivor protection benefits to 1,277 families of participants who died while active in the Church Retirement Plan.

Eligible participants accrue protection section benefits as they begin to make contributions to the Church Retirement Plan. Twelve consecutive monthly contributions are required to receive full protection section benefits. If a participant has less than twelve consecutive monthly contributions and dies or becomes disabled, protection section benefits are prorated.

During rocky financial times, as church budgets tighten and many church leaders forego salary increases, some participants may be tempted to suspend their retirement plan contributions. While it may seem like a small thing to cease retirement contributions, the impact to the participant’s protection section benefits creates a doubly negative impact. Not only do participants experience the opportunity cost of investments not made that could have accrued additional shares, but they also lose their full protection section benefits.

“We know of no other retirement plan for ministers and churches that provides this type of protection and assistance at absolutely no cost to the participant or the church,” GuideStone President O.S. Hawkins said. “GuideStone works in concert with the state conventions to provide these valuable benefits.”

GuideStone participants who have had to make use of the Disability Income Benefit and Survivor Protection Benefit frequently say the benefits may mean the difference between paying everyday expenses — food, shelter, medicine — and not.

Haven Bailey was one such beneficiary. A pastor’s wife in Ware Shoals, S.C., she and her husband Tim had four young children. Tim, a healthy 34-year-old, and the kids were playing along the Saluda River near their home when he had to jump in to save two of their children. Tim died during the May 2005 rescue.

With the protection section benefits, coupled with life insurance Tim had purchased from GuideStone, Haven and her children were able to remain financially secure while dealing with Tim’s sudden passing.

The benefits from GuideStone helped the family to buy groceries and to survive, Haven noted.

“For the first two months (after the accident), I was just in shock,” she told GuideStone in 2006. “GuideStone stepped in very quickly and took care of everything.”

Haven’s story is one of scores GuideStone hears of every week.

“These protection section benefits help differentiate GuideStone from almost every other retirement plan provider,” Hawkins said. “Unlike secular companies who are primarily interested in turning a profit, GuideStone is a ministry focused on the needs of the pastors at the crossroads. Our purpose is to come alongside our churches and help their ministers and staff members plan for the future.”

For more information on the Church Retirement Plan, or to ask about eligibility for Protection Section Benefits, visit the Web site or call 1-888-98-GUIDE (1-888-984-8433).

Word Version - GuideStone’s Church Retirement Plan provides security for today while preparing for tomorrow