We are pleased to share an important update regarding retirement benefits for employees in the Episcopal Diocese of Maine.
Effective immediately, employees who work fewer than 1,000 hours annually are now eligible to enroll in the 403(b) retirement plan through Church Pension Group.
While employees working less than 1,000 hours annually are not eligible for employer contributions to the plan, we strongly encourage you to consider enrolling and making employee contributions through payroll deduction. Contributing to your 403(b) offers valuable tax advantages, as your contributions reduce your taxable income in the year they are made, helping you save for retirement while lowering your current tax burden.
To enroll or learn more about the 403(b) plan, please reach out to Sherri Quint at the Diocesan Finance office.
We believe this expanded eligibility represents an important opportunity for all our employees to build long-term financial security, and we encourage you to take advantage of this benefit.