Right now. Even if you begin with small amounts regularly, the habit you create will pay off in the long term. Time is one of the most significant factors in creating a sizable retirement nest egg. The more time you have, the better. But remember, you can’t change yesterday. If you haven’t already started, don’t be discouraged. Just start now.

The amount should be meaningful but not so large that it causes financial pain. If you are uncomfortable with the amount you’re saving, you will tend to stop saving altogether. Make it an amount you can continue to put away regularly. At some point in the future, increase the amount and then continue at the new level. Making several small steps in the future will help immensely in the long run without discouraging the habit of saving.

The normal retirement date is the first day of the month following the date you turn 65. You may begin drawing benefits at any time after age 55 if you terminate employment at a participating school; however, your pension benefit will be reduced compared to what you have received at age 65. Participants aged 65 or older are eligible to begin receiving pension payments at any time regardless of their employment status. If you delay starting your benefit beyond your normal retirement date or, if later, your termination date, your benefit will be actuarially increased to account for the missed payments.

If opting to retire between age 62 and 65, you may elect to have your initial monthly payment based only on the portion of your benefit that is not subject to any early retirement reduction (benefit earned prior to September 1, 2005). When you reach age 65, the rest of your benefit will automatically be added to your monthly payment. The added benefit is based on the portion of your benefit that would have been subject to early retirement reduction if paid between age 62 and 65 (benefits earned on or after September 1, 2005). Please note you must have terminated active participation in the Plan after age 55 to be eligible for this payment option.

If you, or your school on your behalf, contributed to the plan, you have a benefit in the plan. You may also contact your school for more information. If you need additional assistance, please contact the employee benefits office at 877-274-8796. A member of our team would be happy to answer your questions.

Your benefit is calculated using the following formula:

You may contact the employee benefits office at 877-274-8796 to have your benefit calculated for you.

If you’re under 65 and want to start receiving your pension, you generally need to stop working for any school contributing to the Plan.

However, once you start receiving your pension and are under 65, you can work part-time for one of these schools. You can work up to 1,000 hours yearly without affecting your pension payments.

If you’re 65 or older, there are no restrictions on how much you can work for a participating school after you start receiving your pension.

While not employed at a pension participating school, your years of service stop accruing if you are not vested. Your years of service will begin to accrue again if you return to work at a pension participating school.

There is no indexing included in the pension plan. You can protect yourself from inflation in retirement by contributing to a 401(k), 403(b), IRA or any other investment vehicle.

No, you can’t. Your benefits are guaranteed for life. Unlike a 401(k) or 403(b), your pension is a defined benefit plan. That means your monthly payments are calculated based on a specific formula, not how much money you’ve invested. You’ll continue to receive benefit payments as long as you live.

Our plan includes survivor benefit payment options, that provide a pension to your spouse (or in certain circumstances you can designate a child) after your death. To ensure your dependents will be cared for, it’s worth taking the time to review your plan documents carefully, designate your beneficiaries, and seek independent financial advice before selecting your pension payment option.

No, once you begin receiving your benefit payments, you cannot make a change to your beneficiary or your benefit payment option. Please consider this information carefully before you complete your pension application.

“Life only” means that your pension payments will continue as long as you live. When you pass away, the payments will stop. You’ll receive your benefits for the rest of your life, but your spouse or beneficiaries will not receive any payments after your death.

Frozen means that employees no longer accumulate additional pension benefits based on their salary after the freeze date. Benefits already earned up to the freeze date are protected and will be paid out according to the plan's rules when the employee retires. For non-vested participants, vesting service can still be earned.

Following a recommendation from the CSI Pension Task Force and the Plan Trustees, the CSI Board of Trustees decided to hard freeze the pension plan effective September 1, 2019. Under the hard freeze, the plan continues to operate.

Based on the latest valuation of the pension plan, the actuary has determined that pension benefits are fully funded on a going concern basis. This indicates a healthy pension plan with sufficient assets to meet its long-term obligations under the assumption that the plan sponsor will continue to operate indefinitely. There is assurance that your pension benefits will be paid, and plan members can have more confidence in their retirement income.

The funds are managed by experienced professionals and invested across a diverse portfolio, which helps to reduce risk. Pension trustees closely monitor the investments, comparing the plan’s returns to market benchmarks. Trustees can replace investment managers if the investments don’t provide the appropriate level of return.

You can find a detailed list of the plan’s investments in the annual Audited Financials. You can request a copy of these documents by contacting the employee benefits team at 877-274-8796.

Our plans are very competitive and offer a wide choice of plans and plan options to best meet the needs of our participants.

In addition to health insurance coverage, schools can include options such as dental coverage, life insurance, and disability coverage. Individual employees can also include accident, critical illness, hospital indemnity coverage, vision coverage, and legal services. All employees enrolled in health, dental, life/A&D, and/or long-term disability coverage also automatically have adoption and student loan assistance benefits. Also, retired employees who live in Michigan are eligible for retiree insurance.

For Michigan residents, we offer group and individual Medicare Advantage plans. Each plan has different eligibility criteria and works with Medicare Parts A and B to give you broader coverage. Most people find that Medicare Parts A and B alone don’t cover all their healthcare needs.

If you live in Michigan and are interested in the Medicare Advantage plans, contact the benefits team to learn more about available options.

Over 70 Christian educational organizations participate in our world-class benefit plans. Specific eligibility requirements are determined by participating schools.

To learn more about joining the plan, contact our Pension & Insurance Account Manager, Todd Schilthuis, to learn more.

We're here to help! Our sole purpose is to help Christian education organizations provide quality, tailored pensions, and health benefits for their staff. Contact our Pension & Insurance Account Manager, Todd Schilthuis, to learn more.