Pension/Retirement
Lay Employee Pension Plan
The Diocese of Rockville Centre Lay Employee Pension was created on January 1, 1957, to provide retirement benefits for long term employees of the Diocese of Rockville Centre, its parishes, schools, cemeteries and related Pastoral organizations.
Accruals in the plan ended December 31, 2014, and no employees of the Diocese hired after that date are eligible for the pension plan but can contribute to a 403(b) plan.
If you have any questions or concerns, please contact the Office of Human Resources through our Call Center (833-377-7572) and a representative will answer your questions between 9:00 AM and 5:00 PM EST.
Changes to your Pension
For participants receiving payments, to change your existing pension personal data (address change, checking account, or death of retiree, please contact the Mellon Bank Retiree Help Line +1 (800) 418-0273 or +1 (800) 204-5757.
403(b) Retirement Plans
Tax Deferred Annuity (TDA)
The Diocese of Rockville Centre offers the 403(b) Employee Retirement Plan (the “Plan”) to employees of a participating Diocesan employer. The Plan has been adopted by the Diocese and the participating Diocesan employers (collectively, the “Employer”) to permit eligible employees to save for retirement with pre-tax savings that can grow over time without the contributions or growth being taxed until received.
Employees are welcome to join the 403 (b) Plan to invest money from your paycheck on a tax-deferred basis. Eligible employees include those who are age 21, are lay employees with work status of regular full time, part time or event temporary or are priests. All savings in the TDA belong to the employee and are not subject to vesting requirements. You are always 100% vested in your salary reduction contributions and earnings thereon. Enrollment into this plan is voluntary and requires an application available in a kit from your employer or obtained by calling Mutual of America immediately at 800.468.3785 or visiting mutualofamerica.com. After establishing an account, your employer can accept a Voluntary Salary Reduction Form included in the kit to begin saving.
Thrift Plan
Intended to supplement Social Security benefits and your personal savings program, if you are eligible, this plan is available to you on your date of hire, and you will be automatically enrolled in the plan the first day of the month coincident with or following employment and eligibility. Eligible Lay employees will receive an Employer basic contribution of 3% and for those who save through salary deferral, Employer matching contributions up to 1%. You will become vested in any Employer contributions after 5 years of eligible service.
The Plan provides to Lay employees Employer contributions, which similarly (along with earnings thereon) are not taxed until received. The date on which your participation in the Employer basic and matching contribution features of the Plan actually begin depends on when you first satisfy the eligibility requirements for those features (i.e., the date on which you first become an employee who is at least age 21 and who is regularly scheduled to work at least 35 hours per week).
Enrollment into this plan will be automatic. The employee will receive a welcoming letter from Mutual of America, with instructions on how to access their account and select their investments via the internet. If the employee prefers a paper enrollment form with the brochure and/or prospectuses, they can be provided one by contacting Mutual of America immediately at 800.468.3785 or visiting mutualofamerica.com. Mutual of America has been selected to be the only investment provider of the employer-funded retirement benefit plan for employees. They offer an attractive menu of investment choices.
The retirement plans maintained by the employers of the Diocese represent a very significant financial commitment to employees’ futures. The plans are explained in detail in Summary Plan Descriptions. The application of the plans is very specific to the employee’s circumstance (e.g., how the plans work together, whether the employee is grandfathered into the Traditional Pension Plan or subject to special rules based on service, etc.), and the above should not be relied upon for retirement planning purposes. We strongly encourage all employees to review the Summary Plan Description for the plans described above to understand how the plans work in the employee’s case.
Mailing Address
Office of Human Resources
Diocese of Rockville Centre
PO Box 9023
Rockville Centre, NY 11571