Resource Center

FAQs

Find answers to your most common questions in one central location.

 

Plan Participants

 
What is the Retirement Fund?
 
What is a church pension plan?
 
How is the YMCA Retirement Fund different from other retirement plans?
 
Is the money in the Fund insured by the federal government?
 
Is money saved in the Fund safe?
 
Who reviews the Fund's operation?
 
Historically, what has been the average interest rate credited to Fund accounts?
 
What is the interest rate for 2017?
 
What are the benefits of the Fund?
 
What is the total and permanent disability benefit and how does one qualify for it?
 
What is the Retired Death Benefit? How is it determined?
 
Why is it important to designate a beneficiary?
 
What happens if a retiree does not designate a beneficiary?
 
How does a participant change their beneficiary?
 
What happens if a participant dies while still working for a Y?
 
Who can be named as a beneficiary?
 
If a participant begins receiving an annuity, and then dies what happens?
 
If the primary beneficiary predeceases the participant, who will receive the death benefit?
 
If a participant has accounts in the Retirement Plan and Saving Plan, can they designate different beneficiaries for each plan?
 
Is enrollment in the Retirement Plan optional?
 
Are participants required to work a minimum number of hours in order to remain in the Retirement Plan?
 
What if an employee leaves one Y, and years later is employed by the same or another Y?
 
Who makes investment decisions for the Fund?
 
What is the Fund's asset allocation?
 
Can a participant borrow money from their accounts?
 
What documents are required by the Fund to prove a hardship?
 
What if an employee leaves the Y before reaching eligibility?
 
Can a participant continue to contribute after they leave Y employment?
 
Can a former Y employee who took a withdrawal from the Fund return to work at a Y?
 
How are Y contribution rates determined?
 
Can a participant contribute to their retirement savings in addition to what the Y contributes for them?
 
Can a participant contribute money that is not from their Y paycheck?
 
Are there limits on the amounts a participant can save for retirement?
 
How can a participant find out how much they have saved in the Fund?
 
When using the Fund's online calculators, what interest credit percentage should be used for the calculation?
 
How do retirement savings grow?
 
What are the accounts in the Retirement Plan?
 
What is the difference between a YMCA Account and a YMCA Account (Legacy)?
 
What is a Personal Account?
 
What is the process for a Y that wants to change its contribution rate with the Fund?
 
If a Y stops participating in the Fund, how does that affect the participants’ accounts?
 
What is a 403(b) Smart Account and what are its benefits?
 
How much can Y employees save for retirement?
 
Who can roll money into the Savings Plan?
 
Can employees over age 50 contribute more to a 403(b) Smart Account?
 
What is the 15+ Years of Service Catch-Up and how does it affect contribution limits?
 
What accounts can be rolled over into the Savings Plan and are there limits?
 
Do rollovers earn the same interest as other accounts?
 
Once money is rolled over to the Fund, can it be withdrawn?
 
Upon retirement, are rollovers treated the same as other accounts?
 
Can after-tax contributions be rolled over to the Fund?
 
Can a spouse's money be rolled over to the Fund?
 
How is the rollover process started?
 
When can a participant start receiving their retirement annuity?
 
Are annuities guaranteed?
 
What does a participant need to do to make sure they will be ready to retire?
 
What annuity interest rate does the Fund use to convert account balances into an annuity?
 
Can a participant roll their Retired Death Benefit into their retirement accounts to make their monthly retirement payments greater?
 
Can money be rolled over or contributed to the plans after retirement?
 
If a participant stops working for the Y, is it possible to postpone the start of annuity payments?
 
Can a participant begin collecting their annuity while they’re still working at the Y?
 
Can a retiree who is receiving an annuity from the Fund, or who has received a lump-sum distribution, return to work at a Y?
 
What is the process to change a participant’s marital status on record with the Fund?
 
What is the process to change a participant’s legal name on record with the Fund?
 
What is the process to change a participant’s address on record with the Fund?
 
What is the process for a Qualified Domestic Relations Order (QDRO)?
 

Retirees

 
How is the YMCA Retirement Fund different from other retirement plans?
 
Is the money in the Fund insured by the federal government?
 
Who reviews the Fund's operation?
 
What is the Retired Death Benefit? How is it determined?
 
What happens if a retiree does not designate a beneficiary?
 
How does a participant change their beneficiary?
 
Who can be named as a beneficiary?
 
If a participant begins receiving an annuity, and then dies what happens?
 
If the primary beneficiary predeceases the participant, who will receive the death benefit?
 
If a participant has accounts in the Retirement Plan and Saving Plan, can they designate different beneficiaries for each plan?
 
When choosing a Joint & Survivor Annuity, can the survivor be changed at a later date?
 
Can a former Y employee who took a withdrawal from the Fund return to work at a Y?
 
Are annuities guaranteed?
 
Can a participant roll their Retired Death Benefit into their retirement accounts to make their monthly retirement payments greater?
 
Can money be rolled over or contributed to the plans after retirement?
 
Can monthly annuity payment be sent directly to a bank account?
 
How do I change the bank account where my annuity payment is deposited?
 
What were extra checks?
 
What is the Retiree Emergency Assistance Program?
 
Can a participant begin collecting their annuity while they’re still working at the Y?
 
Can a retiree who is receiving an annuity from the Fund, or who has received a lump-sum distribution, return to work at a Y?
 
What is the process to change a participant’s marital status on record with the Fund?
 
What is the process to change a participant’s legal name on record with the Fund?
 
What is the process to change a participant’s address on record with the Fund?
 
Does the Fund withhold income tax from my annuity payment?
 
How do I change the federal income tax withholding amount for my annuity payment?
 

New to the YMCA

 
What is the Retirement Fund?
 
What is a church pension plan?
 
How is the YMCA Retirement Fund different from other retirement plans?
 
Is the money in the Fund insured by the federal government?
 
Is money saved in the Fund safe?
 
Historically, what has been the average interest rate credited to Fund accounts?
 
What is the interest rate for 2017?
 
What are the benefits of the Fund?
 
Is enrollment in the Retirement Plan optional?
 
When is an employee eligible to be enrolled in the Retirement Plan?
 
What if an employee moves from one Y to another, or works at multiple Ys?
 
What if an employee leaves one Y, and years later is employed by the same or another Y?
 
What if an employee believes they have achieved eligibility, but the Y did not enroll them in the Retirement Plan?
 
Should part-time employees be enrolled in the Retirement Plan?
 
Who makes investment decisions for the Fund?
 
What if an employee leaves the Y before reaching eligibility?
 
Can a former Y employee who took a withdrawal from the Fund return to work at a Y?
 
Can a participant contribute to their retirement savings in addition to what the Y contributes for them?
 
Can a participant contribute money that is not from their Y paycheck?
 
Does a participant have to wait until they are eligible for the Retirement Plan to begin saving?
 
What is a 403(b) Smart Account and what are its benefits?
 
How much can Y employees save for retirement?
 
Who can roll money into the Savings Plan?
 
What accounts can be rolled over into the Savings Plan and are there limits?
 
Do rollovers earn the same interest as other accounts?
 
Once money is rolled over to the Fund, can it be withdrawn?
 
Can after-tax contributions be rolled over to the Fund?
 
Can a spouse's money be rolled over to the Fund?
 
How is the rollover process started?
 

YMCA Plan Administrators

 
What is the Retirement Fund?
 
What is a church pension plan?
 
How is the YMCA Retirement Fund different from other retirement plans?
 
Is the money in the Fund insured by the federal government?
 
Is money saved in the Fund safe?
 
What is ERISA and does the YMCA Retirement Plan follow the ERISA rules?
 
Historically, what has been the average interest rate credited to Fund accounts?
 
What is the interest rate for 2017?
 
What are the benefits of the Fund?
 
Why does the 12% contribution rate matter?
 
What is the total and permanent disability benefit and how does one qualify for it?
 
Why is it important to designate a beneficiary?
 
What happens if a retiree does not designate a beneficiary?
 
How does a participant change their beneficiary?
 
What happens if a participant dies while still working for a Y?
 
Who can be named as a beneficiary?
 
If a participant has accounts in the Retirement Plan and Saving Plan, can they designate different beneficiaries for each plan?
 
Is enrollment in the Retirement Plan optional?
 
When is an employee eligible to be enrolled in the Retirement Plan?
 
Are participants required to work a minimum number of hours in order to remain in the Retirement Plan?
 
What if an employee moves from one Y to another, or works at multiple Ys?
 
What if an employee leaves one Y, and years later is employed by the same or another Y?
 
What if an employee believes they have achieved eligibility, but the Y did not enroll them in the Retirement Plan?
 
Should part-time employees be enrolled in the Retirement Plan?
 
Who makes investment decisions for the Fund?
 
What is the Fund's asset allocation?
 
Can a participant borrow money from their accounts?
 
What documents are required by the Fund to prove a hardship?
 
What if an employee leaves the Y before reaching eligibility?
 
Can a participant continue to contribute after they leave Y employment?
 
Can a former Y employee who took a withdrawal from the Fund return to work at a Y?
 
How are Y contribution rates determined?
 
Can a participant contribute to their retirement savings in addition to what the Y contributes for them?
 
Can a participant contribute money that is not from their Y paycheck?
 
Does a participant have to wait until they are eligible for the Retirement Plan to begin saving?
 
Are there limits on the amounts a participant can save for retirement?
 
How can a participant find out how much they have saved in the Fund?
 
When using the Fund's online calculators, what interest credit percentage should be used for the calculation?
 
What amounts are NOT included in this definition of compensation?
 
How do moving expenses affect plan compensation?
 
Does a Y have any discretion in determining plan compensation under this definition?
 
How do retirement savings grow?
 
What is the difference between a YMCA Account and a YMCA Account (Legacy)?
 
What is a Personal Account?
 
What is the process for a Y that wants to change its contribution rate with the Fund?
 
If a Y stops participating in the Fund, how does that affect the participants’ accounts?
 
What is a 403(b) Smart Account and what are its benefits?
 
How much can Y employees save for retirement?
 
Can employees over age 50 contribute more to a 403(b) Smart Account?
 
What is the 15+ Years of Service Catch-Up and how does it affect contribution limits?
 
When can a participant start receiving their retirement annuity?
 
What annuity interest rate does the Fund use to convert account balances into an annuity?
 
Can a participant begin collecting their annuity while they’re still working at the Y?
 
Can a retiree who is receiving an annuity from the Fund, or who has received a lump-sum distribution, return to work at a Y?
 
What is the process to change a participant’s marital status on record with the Fund?
 
What is the process to change a participant’s legal name on record with the Fund?
 
What is the process to change a participant’s address on record with the Fund?
 

YMCA Leaders

 
What is the Retirement Fund?
 
What is a church pension plan?
 
How is the YMCA Retirement Fund different from other retirement plans?
 
Is the money in the Fund insured by the federal government?
 
Is money saved in the Fund safe?
 
What is ERISA and does the YMCA Retirement Plan follow the ERISA rules?
 
Historically, what has been the average interest rate credited to Fund accounts?
 
What is the interest rate for 2017?
 
What are the benefits of the Fund?
 
Why does the 12% contribution rate matter?
 
Is enrollment in the Retirement Plan optional?
 
Who makes investment decisions for the Fund?
 
What is the Fund's asset allocation?
 
What amounts are NOT included in this definition of compensation?
 
How do moving expenses affect plan compensation?
 
Does a Y have any discretion in determining plan compensation under this definition?
 
What is the process for a Y that wants to change its contribution rate with the Fund?
 
If a Y stops participating in the Fund, how does that affect the participants’ accounts?
 
How much can Y employees save for retirement?
 
Can employees over age 50 contribute more to a 403(b) Smart Account?
 
What is the 15+ Years of Service Catch-Up and how does it affect contribution limits?