Introduction
Retirement may mean different things to different people, but all of us
share at least one common goal: to try to make this chapter
of our lives as
secure and pleasurable as possible. Planning and preparing
for our
retirement can seem a daunting, perhaps even overwhelming,
task. As skilled
as we may be in our professional lives, most of us are not
sophisticated
financial experts. As your financial professional guides you
in how to
protect, preserve, and grow your money, the Joint Retirement
Board for
Conservative Judaism (JRB) offers you membership in a
retirement savings
Plan that can help you reach your financial retirement goals.
Although there are many benefits available to you through your
membership in this Plan, the most
important may be that your contributions are made on a pre-tax
basis. This means that your account has the added potential to grow
faster than savings made outside the Plan because your pre-tax
contributions, and the earnings on them, are not subject to current income
taxes until you withdraw or take distributions from your account. Not
only is saving easier, but your annual income taxes are actually
reduced while you save, and the amount available for growth is maximized.
The JRB was founded in 1945, using proceeds from a trust fund established during his lifetime by
the late Jacob H. Schiff, to enable the Conservative, Orthodox, and
Reform branches of Judaism to begin offering independent pension
plans. The original name was The Joint Retirement Board of The Rabbinical
Assembly of America, The United Synagogue of America, and The Jewish
Theological Seminary of America.
The JRB is a not-for-profit corporation now organized under the laws of the State of Delaware. It manages
a portable, self-directed tax-deferred Defined Contribution
403(b) retirement savings Plan for professional and other employees of
Conservative/Masorti Judaism.
JRB provides a New York City-based headquarters to service accountholders from the movement’s
Rabbis, Cantors, and personnel throughout the world.
JRB’s dedicated professional staff is led by a distinguished group of thirteen volunteer Trustees and two
Observers whose combined knowledge and experience of over 175 years of
service to JRB continually enhance our Plan. Four Trustees are appointed
by the Rabbinical Assembly, four by the United Synagogue of
Conservative Judaism, four by The Jewish Theological Seminary of America, and
one by the Cantors Assembly. An Observer is appointed each year by
both the Jewish Educators Assembly and the North American Association of
Synagogue Executives.
Each Trustee is appointed for a three-year term, with no limit on the number of terms that may be
served. Officers are elected from among the Trustees and may serve in each office
for two successive years. Trustees serve on important committees to
study and recommend policy to the Board on Account Option choices and Plan
enhancements, thereby ensuring that our Plan continues to meet the
ongoing, long-term needs of accountholders.
The JRB retirement savings Plan is organized as a self-directed
403(b) plan. While all 403(b) plans
offer employees of non-profit religious, educational, and
charitable organizations the opportunity to make pension contributions on a
tax-deferred basis, ours, in addition to being a 403(b), is also a “church plan,” providing special advantages to “church” employees and
clergy affiliated with Conservative/Masorti Judaism — such
as parsonage allowance in retirement for clergy, and special catch-up
elections for everyone — that are not available through other types of
retirement programs. (Click here for details of church plan
features.)
The Joint Retirement Board offers two insurance options The
first is Pension Disability insurance
that will
continue to pay your pension deposit should you become
disabled. The
second is Group Term Life insurance that can be
purchased in
amounts up to $300,000. Hartford Life Insurance is the
underwriter of both
policies.
This Plan Handbook is organized to help you understand how the Plan works and how to make the best
use of its features to suit your individual needs.
Your Self-Directed Account
explains each aspect of your personal account.
Putting Money In tells you how
to put money into your account, while Taking Money Out explains how to take money out of your account.
The Insurance Component explains
the requirements and benefits of the Insurance Component of the
Plan.
Employer Information details
procedures for employers whose employees are enrolled, or may be
enrolled, in the JRB Plan.
Each of the Definitions
explains terminology you will need to understand the Plan, and helps you
make informed decisions that will enhance your membership.
A helpful Subject Index and
Table Index conclude the Plan Handbook. You can use these
fast, easy reference sections to find the specific subjects, topics,
and Tables about which you may have a question. They tell you by page
reference where to find the information you need.
In addition to the assistance you should seek from your own financial professionals in planning for your
financial future, JRB provides the following special services:
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Newsletters JRB’s Newsletters
are available online and through the mail, and serve as
updates to this Handbook. Each contains important, current
information
on Plan enhancements, new Account Options, interest
rates, mutual
fund performance, and new developments in relevant
federal
legislation, such as Social Security retirement and Medicare provisions.
Each Newsletter features a special column written by JRB’s Chief Operating Officer,
Mitchell Smilowitz, CPA, in
which he discusses issues of interest to accountholders.
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Special Print Publications (Available Upon Request) |
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Mutual Funds
Information Sheet, containing detailed
information
on each fund, in addition to performance data |
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Benefits of
Membership: Highlights of the JRB
Retirement
Plan |
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Maximizing Your
Portfolio: Your Investor Profile |
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Understanding
Your Account Options |
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Video of Pre-Retirement Seminar sponsored jointly by JRB and the
Rabbinical Assembly |
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Seminars and Workshops in New York City and Various Regions
Across the Country |
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Personal Consultations with JRB Professional Staff in New York
Office |
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Personal Consultations with JRB Professional Staff During
Regional Visits |
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Personal Consultations with JRB Professional Staff at
Conventions |
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Required Minimum Distribution Calculations |
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Timing of Withdrawals |
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Handling of Loan Requests |
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Confirmation of Deposits |
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| JRB makes every effort to protect the privacy and
security of all account information. |
With a combined total of more than 100 years of experience with JRB, our professional staff works closely
with the Chief Operating Officer, and is eager to respond quickly to
your questions and available to help you in all matters relating to your
membership in the Plan. JRB’s goal is to offer you a range of
sound investment opportunities and information to facilitate your retirement planning decisions.
We look forward to working with you and hope this Plan Handbook will answer your questions with
clear, simple, and understandable explanations of how the Plan works
and how you will benefit by your membership in it.
Welcome to the Plan!
The Joint Retirement Board
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