By Bob Perkins
Cooperative Baptist Fellowship Church Benefits announced June 24 at the 2016 CBF General Assembly in Greensboro, N.C., it is entering into a new relationship with Empower, a premier retirement financial services provider with expertise in both commercial and faith-based retirement investors.
The announcement was made by Gary Skeen, CBF Church Benefits president during the Friday morning business session, in which he reported that the move to Empower will allow CBF Church Benefits to provide a higher level of customer service and investing flexibility for CBF retirement plan investors.
“The move to Empower will enable CBF Church Benefits to provide state of the art customer service to its members,” Skeen said. “Through its cutting edge web-enabled transaction and education capability, Empower’s investing tools will provide enhanced investment options for members and easier access to make investing selections and changes to existing selections in the future.”
Skeen said one of the most attractive aspects to this relationship with Empower is that they are currently the number one retirement investment services provider for churches and religious nonprofits nationwide, with more than 700 churches among their clients.
“Empower already manages the retirement plans for the Mennonite Church and Seventh-Day Adventists, among others,” Skeen said. “Empower features a customer service center dedicated to faith-based members that can be accessed either by a toll free call or on the web. Empower has specially-trained representatives who are experts on the particular needs and challenges for 403(b) investing, including housing allowances and the special IRS rules.”
Skeen said he expects the move to Empower will be completed by early October, with plenty of communications to members in the coming months. Skeen also issued a challenge to churches who haven’t yet joined CBF’s Church Benefits: now is the time.
“Since you are committed to identifying with CBF ministries, isn’t it time to join with other CBF folk in preparing for your future,” Skeen asked. “We have just completed an independent study that shows our investment performance is equal to or better than our competitors over the last one, three and five years. We continue to provide full fee disclosure. And now with Empower, we will be partnered with a leading retirement plan provider.”
For more information about CBF Church Benefits, please contact via email at email@example.com or 1-800-352-8741.