The RCA Pension Plan offers an outstanding array of benefits that make it unique among pension plans. While others may be able to match one or two of our features, we do not believe that anyone offers a more comprehensive and beneficial list of advantages. We invite prospective members to compare our total program against any and all alternatives.

Among the highlights of our Plan are the following:

• PARSONAGE: Most of our members are currently taking advantage of a parsonage (or housing) allowance which permits them to deduct from their taxable income funds used to pay rent or a mortgage on a house, most furnishings, and cleaning services. This benefit is only available to clergy. It is also available to clergy during their retirement years only if their pension is provided by a 403(b) plan sponsored by a religious institution such as the RCA. Since housing is a major portion of a retiree�s expenses, this feature can save taxes on a significant portion of your pension income. Statistics show that most pension accounts are underfunded. This provision can play a major role in enabling your pension to meet your needs. It is the most important difference between the RCA Plan and other pension plans.
  
  
• UNBIASED FINANCIAL ADVISORS: We have hired professional financial advisors with no institutional ties to assist pension plan members, at no extra cost, in constructing an effective portfolio for their funds. The firm, CFS Investment Advisory Services, L.L.C., guides the board, on a quarterly basis, in evaluating the Plan�s performance. In addition, it is also available to assist individual members. Their annual fee, which includes this benefit, is part of the overall operating charge and is not based on the amount of time spent servicing our members. There is no additional charge for consultations on the assets invested in our Plan and they offer a discounted rate for assistance on member�s funds invested elsewhere. In fact, if the outside investments are not complicated, they usually do not charge for these services either. In order to make it easier to consult with our advisers, they are present at our conventions, have gone to regional meetings, are located in the N.Y. metropolitan area, and can be reached via a toll-free number, 800 298 6059 or through their website, www.cfsias.com.
  
  
• HIGH FIXED INCOME RATE: Members of the RCA Plan tend to be conservative in their money management. A large percentage of our funds are in fixed return investments. We have been fortunate in getting returns of 4% or higher over the past 6 years because of the large amounts in this portion of our accounts. Our current rate through December 2004 is 4% from Met Life
  
  
• LOW OPERATING EXPENSES: Because our board is composed of RCA members who are not reimbursed for their services, we do not maintain a separate office and have managed to secure very competitive contracts from the professionals used by the plan, we are able to offer a very low maintenance charge. It previously was a minimal 25 basis points (.25%) but, due to our prudent management and low overhead, we have been able to lower it to 18 basis points (.18%.) That is a cost of 18 cents on every $100 invested. As more members join our plan we hope to be able to lower this rate even further.
  
  
• DELAYED DISTRIBUTION REQUIREMENTS: Most pension plans, because of federal law, require that distributions begin in the year following a member having reaching the age of 70 �. Our Plan is not bound by that statute and, therefore, allows colleagues to avoid distributions until they actually retire from all rabbinic duties.
  
  
• INSTANT VESTING AND PORTABILITY: From the moment a person makes their first contribution to the Plan, they are completely vested and those funds are theirs regardless of whether they leave the rabbinate, move to Israel, or stop contributing to the plan. Our pension follows wherever the rabbi is employed and does not have to be changed because the person or firm managing the pension is not located in the rabbi�s new community or is unavailable to service their plan.
  
  
• INSTANT ACCESS: We have a website, www.pentrack.com, which provides instant information on the current status of member�s accounts and allows them to change the allocation of their funds online. While we urge members to be deliberate in the changes they make in their investments, we allow them to switch funds at any time
  
  
• MANAGEMENT WITH YOUR INTERESTS: The Pension Board consists of colleagues who are participants in the Plan. Their goal is to ensure that Plan members get the best possible benefits rather than enhancing their reputations or personal income. They are elected at the convention and can be replaced by the membership if they are not fulfilling their responsibilities.
  
  
• NON RABBIS MAY ALSO JOIN: While our Plan is primarily for our colleagues, it is also open to cantors, administrators, and educational personnel of synagogues headed by an RCA member. There are certain restrictions on these categories. Anyone interested should discuss their application with our administrator, Marvin Scherb, 908 709 1600 Extension 102.
  
  
• Rabbis who have left the rabbinate or whose RCA membership has lapsed continue to be eligible members of the pension plan for an additional five years. After that period, their accounts retain all the regular benefits, but they are no longer able to make new contributions.
  
  
• DOCUMENTS:
  Application for Participation
  Distribution Form
  Investment Election Form
  IRS Special Tax Notice
  RCA Beneficiary Form
  RCA Summary Plan Description
  Sample Parsonage Letter
  Transfer of Assets to RCA Plan
  Pension Report 2004