Retirement Plan

EMPLOYER PAYS 100%

The Lay Pension Plan provides a benefit to eligible lay employees based on salary and the number of years of credited service. Combined with Social Security benefits and savings or investments, the Plan will help to meet personal living expenses during retirement.

Eligibility
Regular, full-time lay employees of parishes, schools and participating institutions in the Diocese.

Transferring
Transferring from one participating employer to another within the Diocese does not change an employee’s “Date of Hire,” as long as there is no break in service.

Vested Pension
An employee may leave the Diocese with a “Vested Pension” – the right to future benefits – after five years of continuous, full-time service. Note: As of July 1, 1998, a participating employee, prior to completing 5 years of continuous service, may incur a break in service up to 36 months without the loss of credited service.

Spouse
The spouse of a deceased, vested employee may apply for a surviving spouse benefit on the deceased employee’s normal retirement date, age 65. A surviving spouse benefit is the amount that would have been paid (based on service to the date of death) if the employee had elected a 50% survivor annuity on the employee’s normal retirement date.

Distribution
The plan is administered by Gallagher Retirement Services. All contributions to the plan are held in a Trust Fund and are not eligible for distribution until age 55. Additional details can be found in the Summary Plan Description.

Contact
Gallagher Retirement Services
844.605.1386
diocese.kc.st.joseph@ajg.com