PRESENTERS NAME

Ministers are not exempt from federal income tax, just federal tax withholding. That is to say, withholding is an option or voluntary but paying federal tax is still not an option for ministers.

To do so, you must Submit Form 4361 to the IRS and inform your ordaining body certifying that you have a conscientious objection to the acceptance of any public insurance that makes payments in the event of death, disability, old age, or retirement; or that makes payments toward the cost of, or provides services for, medical care, including the benefits of any insurance system established by the Social Security Act.

To do so, you must Submit Form 4361 to the IRS and inform your ordaining body certifying that you have a conscientious objection to the acceptance of any public insurance that makes payments in the event of death, disability, old age, or retirement; or that makes payments toward the cost of, or provides services for, medical care, including the benefits of any insurance system established by the Social Security Act.

Even if you conscientiously object from a theological standpoint, it still may not financially a good deal. Financial Standpoint: GET numbers showing what someone’s contributed to Social Security during their career versus investing on their own. We want to show SS is a value-add.

Source: Russell Moore, Is It Okay for Me to Opt Out of Social Security Source: Russell Moore, Is It Okay for Me to Opt Out of Social Security? My Response, accessed February 2, 2016, RussellMoore.com/2010/02/15/is-it-okay-for-me-to-opt-out-of-social-security-my-response/ The Social Security system isn’t based on voluntary “contributions,” but rather on taxes. 

Source: Russell Moore, Is It Okay for Me to Opt Out of Social Security Source: Russell Moore, Is It Okay for Me to Opt Out of Social Security? My Response, accessed February 2, 2016, RussellMoore.com/2010/02/15/is-it-okay-for-me-to-opt-out-of-social-security-my-response/ “Do you plan to preach and teach your people that participating in Social Security (as payer or recipient) is a sin against God?

Also, if you have opted out, these are steps you will need to take.

Calculations assume 6% retirement growth and a 3 Calculations assume 6% retirement growth and a 3.25% annuity funding rate on a GuideStone Joint Life Income Annuity. Source: Social Security Quick Calculator, accessed February 2, 2016, SSA.gov/OACT/quickcalc/index.html.

Source: Medicare. gov: The Official U. S Source: Medicare.gov: The Official U.S. Government Site for Medicare, Part A costs, accessed February 2, 2016, Medicare.gov/your-medicare-costs/part-a-costs/part-a-costs.html.

Source: Facts (October 2015), SSA.gov/disabilityfacts/facts.html.

Source: Personal Finance: How much life insurance do you need Source: Personal Finance: How much life insurance do you need? accessed February 2, 2016, CNBC.com/2014/10/03/how-much-life-insurance-do-you-need.html.

STAY CONNECTED 1-888-98-GUIDE (1-888-984-8433) Info@GuideStone.org With thousands of investment options available for ministers and church employees, why should they use this plan? First, the Church Retirement Plan has no sales commissions. This means 100% of the money you contribute is invested directly into your account.