Retirement Plans

As a holding company to our affiliate ministries, Covenant Ministries of Benevolence serves as the plan administrator for several retirement plans. Many participants in these plans are still employed and are actively contributing toward their retirement in Defined Contribution Plans with employer matching programs. Other participants in these plans have faithfully served CMB affiliates and are now in retirement. Though CMB has offered many plans since the mid-1960s, the largest plans are the following:

• The Evangelical Covenant Church Retirement Plan (ECCRP) is a Defined Benefit Plan, meaning only the employer makes contributions to the plan. The plan began in 1968 and was frozen by 2013. As of March 2025, CMB has decided to terminate the “Plan” which means day-to-day operations of administering the plan will cease and all benefit payment responsibilities will eventually be transferred to an insurance company. CMB will fully fund the plan prior to the transfer to guarantee all benefits. To learn more about your benefit and transfer options, participants should contact the pension center at Gallagher (contact information below).
  • Those already receiving their pension benefit will eventually receive their benefit from the insurance company with no change to the amount or form of their payments.
• The 403(b) Defined Contribution Plan is funded by both the employee and the employer. CMB’s current plan offers a match from the employer once fully vested.

All other questions can be directed to CMB at info@cmb.org or by using our contact form.