NEWS & UPDATES

In my role I’m often asked, “When should I start Social Security?” It’s a fair question. This decision affects your income for the rest of your life, so it deserves careful thought. Proverbs 21:5 reminds us that good planning matters, and deciding when to start Social Security is one of those moments. Let's consider some of the factors.

As a participant in the BMA of America Retirement Plan, you know that a good retirement strategy is not just one-dimensional. It takes multiple streams of income working together—Social Security and your retirement plan investments—to provide both security and flexibility. This combination helps build what we call your Future Funded Ministry, allowing you to minister with or without compensation in your golden years.

Many are not aware that you can sign up for Medicare without filing for Social Security. In churches it’s quite common that some employees are still working when becoming Medicare eligible but are not ready to start taking Social Security.

Start 2024 right by including a review of your insurance coverages to make sure you are getting the most out of your plans for the new year.

A study reveals that 40% of older Americans rely solely on Social Security for their retirement income.

One of the promoted benefits of the BMA retirement plan relates to the ministers’ housing allowance—and for good reason! Read more...