Employees choose from five different funds to create their investment mix. Social purpose funds are available for those concerned with social and investment criteria. The plan offers employees considerable flexibility in the payment of benefits. The employee decides how the member-savings account is invested. To receive employer-matching contributions, an employee must meet certain eligibility requirements.
Employers designate the matching amount, based on the employee's salary-reduction contributions.
The employee decides how the employer-savings account is invested. Employees may make tax-deferred contributions to the ELCA Institutional Savings Plan, regardless of the number of hours they work or whether they are participating in the pension plan. Employees do not pay income taxes on the amounts contributed until they make withdrawals from the savings plan. The employer remits the contributions to the Board of Pensions for the employee. The contributions are credited to the employee's member-savings account and invested at the employee's direction.