Updated UUA Retirement Plan Expands Access, Simplifies Administration

The Unitarian Universalist Association has updated its retirement plan to better live into the faith’s values, expand access to long-term savings for employees of participating employers, and make the plan easier to administer.

Changes to the UU Organizations Retirement Plan, as reflected in the UU Org Retirement Restated Plan document, go into effect on January 1, 2025.

Before the January 1 deadline, all participating employers must pass a board motion adopting the new plan and submit a new Employer Participation Agreement. (Here is a sample board resolution motion for the process.)

Among the plan’s changes:

• It standardizes how employer contributions are calculated.
• It also expands eligibility for immediate employer contributions, so that all UUA credentialed and certified professionals—including credentialed religious educators and certified music ministers—are now included.

These changes reflect “the overall equity lens we were applying” in drafting the restatement, says Gloria Guldager, UUA retirement plan director.

Even before the new restatement, the UUA plan was expansive and inclusive compared to other plans, says Rev. Richard Nugent, director of the UUA Office of Church Staff Finances, which manages the plan.

For one thing, every employee aged 18 or older who works at a participating employer is eligible to contribute money into the plan from day one, if they choose.

“That’s actually a big deal in the retirement plan world,” as many employers first require employees to work a year or a minimum number of hours before they can contribute, says Guldager.

And community ministers are eligible to participate, too.

“If you are a community minister, or your current UU employer is not currently participating in the UU Org Retirement Plan, now is a great time to join the plan,” says Guldager.

For information on how to get started, email retirementplan@uua.org or visit uua.org/retirement.

Why did the UUA Change Its Retirement Plan?

Though the restatement process was prompted by the need to comply with recent federal laws related to retirement plans, OCF staff took the opportunity to make the plan more equitable to better express core values of Unitarian Universalism.

“Our plan is important in helping congregations live their values by providing the promise of retirement to the employees of UU organizations and doing so with a requirement that every employee qualifying for employer contributions receive the same percentage contribution,” says Nugent.

“At the UUA, we talk a lot about equity and inclusion and trying to support people of all backgrounds and positions to have economic sustainability.”

The restatement better achieves that goal, he adds.

Nearly 600 Unitarian Universalist congregations and UU-affiliated groups participate in the UUA retirement plan, an IRS-qualified 401a/k church plan with approximately $520 million invested by 4,598 participants, including retirees.

The UUA maintains the retirement plan to enable all employees of congregations, regions, the UUA, other UU organizations, and UU ordained community ministers to accumulate funds for their retirement. The plan is overseen by the UUA Retirement Plan Committee, appointed by the UUA board.

The UUA Board of Trustees unanimously adopted the 89-page restatement on August 12, 2024, after two years of work by OCF staff to bring the plan more in line with the faith’s values. The last restatement took place in 2014, according to Nugent.

In August, participating employers received a communication from OCF asking them to appoint a primary contact to manage all communications related to the plan restatement process.

Before October 31, the primary contact should submit the new Employer Participation Agreement elections form and a current list of employees so that there is time to review these documents before January 1.

Additional UUA Retirement Plan Resources

For more information, go to hrforuus.uua.org/help/en-us.

Specific questions can be directed to retirementplan@uua.org.

The OCF will also be hosting webinars and zoom meetings for employers to learn more, Nugent says, adding that more details will be forthcoming.