Jump to content

Church Deferred Compensation Plan


Guest sherryj
 Share

Recommended Posts

Guest sherryj

We have a deferred compensation plan in our church that was set up by the ruling body of the church. We receive $2000 each year directly placed in our 403B. But, until we are vested, the contributions are pro-rated...i.e., $750 in the 403B the first year, $1,250 in the church's escrow account until 8 years of service had been completed, the following year it was raised to $1,000 in our 403B, $1,000 in the church escrow, and last year $1,250 to the 403B and $750 to escrow. In 2 years, we will have 8 years of service. But, the clincher, the church has decided that they can't afford a pastor, so we have been terminated, effective the end of the summer. The deferred compensation is paid in July. They don't want to pay this years, because we will be terminated the next month. We also "lose" the escrow amount because we won't make the 8 years of service. Can they do this? Any insight would be appreciated. Thanks.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...