By Roy Hayhurt, GuideStone Financial Resources DALLAS, Texas - GuideStone Financial Resources has announced changes to the Protection Section Benefits offered to qualified participants in the Church Retirement Plan, the 403(b)(9) retirement plan offered exclusively to Southern Baptist churches and their staffs. The change in benefits will offer cost savings to state conventions, which can use the money in other avenues of missions and ministry. The Protection Section Benefits, a unique benefit not found in most other denominational pension plans, nor in most secular retirement plans, currently offers qualified participants a disability benefit of up to $500 per month, along with a survivor protection benefit of up to $100,000, so long as there have been at least contributions in each of the last 12 months. The changes to the benefit will increase the minimum monthly contribution for those eligible for the benefits to $50 monthly, and disability benefits must begin before age 65 and will be limited to a payout of 60 months. There are no changes to the survivor protection benefit. Participants currently receiving benefits will not be affected. “These benefits have proven to be financial life-savers for many of the … [Read more...]