The Joint Retirement Board for Conservative Judaism, Amutah,

What The Joint Retirement Board for Conservative Judaism, Amutah, does

The Joint Retirement Board for Conservative Judaism, Amutah (JRB) is a 501(c)(3) nonprofit organization founded in 1945 that administers a denominational 403(b)(9) defined contribution retirement plan for Conservative Movement clergy and employees. Operating from a single New York City office with $1.3 billion in plan assets, JRB serves rabbis, cantors, educators, and administrative staff employed by USCJ-affiliated congregations, Schechter Day Schools, Camp Ramah, and other Conservative Movement organizations. The plan's defining structural feature is its IRS church plan designation—secured via a Private Letter Ruling—which permits retired clergy to claim parsonage (housing) allowance on distributions, a tax benefit unavailable through secular retirement plans. The board is governed by trustees appointed by the constituent denominational bodies: the Rabbinical Assembly, Cantors Assembly, Jewish Theological Seminary, United Synagogue of Conservative Judaism, Jewish Educators Assembly, and North American Association of Synagogue Executives.

The JRB operates through an asset-based fee model, charging 25 basis points annually on plan assets—substantially below typical broker/advisor fees. Core technology and service infrastructure is delivered through outsourced partnerships: Alerus provides recordkeeping and the participant-facing online portal and mobile app; CAPTRUST serves as investment advisor supporting an in-house Investment Review Committee that curates no-load mutual funds and collective investment trusts from American Funds, Fidelity, Goldman Sachs, JPMorgan, Loomis Sayles, Parnassus, T. Rowe Price, and Vanguard; and Mutual of Omaha underwrites the complimentary disability, pension continuation, and life insurance package available to participants contributing at least $1,200 annually. In November 2025 the plan introduced a Roth after-tax contribution option, expanding its tax-diversification toolkit.

Distribution is denominational rather than commercial: enrollment flows through USCJ membership, Rabbinical Assembly/Cantors Assembly affiliation, and Jewish Educators Assembly referrals. The organization markets through a content engine including a 10-topic Learning Center, a monthly JRB Financial Pulse newsletter, and complimentary one-on-one financial consultations, with no paid advertising evident. Participant acquisition also accelerates when small congregations face state retirement mandates such as CalSavers and NJ Secure Choice, where JRB offers a no-cost, pre-existing plan as a compliance solution. The leadership team is small (1-10 employees), led by CEO Elina D. Babadzhanova, AIF and COO Douglas Spangler, reflecting a lean operating model appropriate to a nonprofit plan administrator.

Name

The Joint Retirement Board for Conservative Judaism, Amutah,

Legal name

The Joint Retirement Board for Conservative Judaism, Amutah

Website

https://jrbcj.org

Company type

Private

Founded year

1945

Operating status

Operating

Headcount range

1–10 employees

Short description

The Joint Retirement Board for Conservative Judaism (JRB) is a 501(c)(3) nonprofit that administers a 403(b)(9) defined contribution retirement plan for Conservative Movement clergy and employees at affiliated synagogues, schools, and organizations, holding $1.3B in plan assets.

Ownership category

akta.pro rank

Product category

Retirement Plan Administration

NAICS

Pension Funds (52511), Insurance and Employee Benefit Funds (5251), Religious Organizations (8131)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Private Wealth Planning (Tax, Estate & Succession) (FSAAABAE)

Keywords

• 403(b)(9) retirement plans
• Denominational retirement administration
• Clergy financial planning
• Nonprofit pension services
• Church plan benefits

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others, Marketing or Sales, Infrastructure

Revenue model

1. Plan Administration Fee: The JRB is a not-for-profit organization under Section 501(c)(3) of the Internal Revenue Code. It imposes a nominal annual fee of 25 basis points (1/4 of 1%) on plan assets to cover the cost of administering the Plan. This fee is substantially lower than fees typically charged by stock brokers and investment advisors.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

The Joint Retirement Board for Conservative Judaism administers a 403(b)(9) defined contribution retirement savings plan exclusively for rabbis, cantors, and professional/administrative staff of Conservative Movement synagogues, day schools, and affiliated organizations. The plan offers pre-tax and Roth salary reduction contributions, tax-deferred growth, a curated menu of no-load mutual funds and collective investment trusts (plus a twice-yearly Israel Bonds offering), and, under an IRS Private Letter Ruling, a tax-free parsonage (housing) allowance on retirement distributions available only through church plans. A complimentary insurance program (life, disability, and pension continuation underwritten by Mutual of Omaha), financial consultations, online account access, and a state-customized estate planning tool round out the offering.

Product overview

The Joint Retirement Board for Conservative Judaism offers the JRB 403(b)(9) Retirement Plan as its core product—a defined contribution program for Conservative Movement clergy and employees. The plan is complemented by a Complimentary Insurance Program (disability, pension continuation, and life insurance), diverse Investment Options (including target date funds, stable value, and Israel Bonds), a Complimentary Financial Consultation service, an Online Account Management Portal via Alerus, a Learning Center with educational content, a monthly JRB Financial Pulse newsletter, and free estate planning legal forms. The plan uniquely provides clergy housing allowance benefits as a church plan under IRS designation.

Differentiator

Problem solved

Functional benefit

Products and services

• JRB 403(b)(9) Retirement Plan A defined contribution 403(b)(9) retirement savings plan for clergy and employees of Conservative Movement synagogues, schools, and affiliated organizations, offering pre-tax and Roth salary reduction contributions, tax-deferred growth, and a unique tax-free clergy housing (parsonage) allowance in retirement available only through its church plan structure.
• Complimentary Insurance Program Provides complimentary life insurance (up to $30,000 death benefit), disability insurance (60% of monthly salary up to $1,000/month), and pension continuation insurance (15% of monthly salary up to $1,250/month) to participants contributing at least $1,200 per year, underwritten by Mutual of Omaha.
• Investment Options Menu Self-directed menu of stable value, bond, hybrid/balanced, target date, U.S. large-cap, mid/small-cap, and international stock funds, plus a twice-yearly Israel Bonds offering, drawn from American Funds, Fidelity, Goldman Sachs, JPMorgan, Loomis Sayles, Parnassus, T. Rowe Price, and Vanguard at the lowest-cost share class.
• Complimentary Financial Consultation One-on-one personalized consultation helping participants assess retirement readiness, review investment allocation, project retirement income, balance competing financial priorities, and maximize the parsonage allowance benefit.
• Create Your Own Will Legal Forms Free interactive online legal document tool that produces state-customized wills, powers of attorney, healthcare directives, and living trusts for plan participants, sponsored by Mutual of Omaha Insurance Company.
• Online Account Management Portal 24/7 self-service online portal and Alerus Retirement mobile app allowing participants to view balances, change investment allocations, update contributions, process distributions, and access Form 1099-R.

Quantifiable outcome

• Annual administration fee of 25 basis points (0.25%) — substantially lower than typical broker/advisor fees
• +3 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• CAPTRUSTcoreImplementation/ SI/ Consulting PartnerCAPTRUST serves as the JRB's investment advisor, supporting the Investment Review Committee in selecting and monitoring the plan's investment offerings. CAPTRUST helps ensure that the curated selection of no-load mutual funds and collective investment trusts meets the investment objectives of plan participants across all asset classes.
• AleruscoreTechnology or IntegrationAlerus serves as the JRB's recordkeeper, providing the online account management portal and mobile app (Alerus Retirement) through which participants can view balances, manage investment allocations, process distributions, and access account statements and tax forms (Form 1099-R). Alerus also tracks contribution designations between Traditional pre-tax and Roth after-tax.
• United Synagogue of Conservative Judaism (USCJ)coreStrategic or Co-development PartnerUSCJ is the primary organizational partner, representing affiliated Conservative Movement synagogues. As a benefit of USCJ membership, the JRB Plan is open to all employees of affiliated congregations at no cost to employers. USCJ appoints board representatives to the JRB Board of Trustees and refers new member congregations to the plan.
• Rabbinical AssemblycoreStrategic or Co-development PartnerThe Rabbinical Assembly is the international association of Conservative rabbis and is a key constituent organization of the JRB. Members of the Rabbinical Assembly are eligible to participate in the JRB Plan regardless of employer type. The Rabbinical Assembly appoints trustees to the JRB Board of Trustees and participates in educational presentations at denominational events.
• Cantors AssemblycoreStrategic or Co-development PartnerThe Cantors Assembly is the organization representing Conservative cantors and is a key constituent organization of the JRB. Members of the Cantors Assembly are eligible to participate in the JRB Plan regardless of employer type. The organization appoints trustees to the JRB Board of Trustees and its members benefit from the unique parsonage allowance provision available through the church plan structure.
• Jewish Theological Seminary (JTS)coreStrategic or Co-development PartnerJTS is a founding constituent organization of the Conservative Movement and appoints trustees to the JRB Board of Trustees. JTS is represented on the board and its leadership and alumni benefit from the JRB retirement plan as employees or member clergy.
• Jewish Educators AssemblyminorStrategic or Co-development PartnerThe Jewish Educators Assembly represents professional Jewish educators and appoints a trustee to the JRB Board of Trustees. Its members employed by Conservative Movement organizations are eligible to participate in the JRB Plan.
• North American Association of Synagogue Executives (NAASE)minorStrategic or Co-development PartnerNAASE represents synagogue executive directors and administrators and appoints a trustee to the JRB Board of Trustees. Its members facilitate enrollment of synagogue employees in the JRB Plan and benefit from the plan as synagogue executives.

Scale indicators2 records

Recent moves2 records

Expansion highlights5 records

Direct peers

• Pension Boards - United Church of Christ: PBUCC administers retirement and welfare benefits for UCC clergy and lay employees through a tax-sheltered annuity/defined contribution structure. Direct peer operating a denomination-specific retirement plan with bundled insurance benefits, governed by a multi-board denominational structure analogous to JRB.
• Church Pension Group: Church Pension Group administers retirement, health, and related benefits for Episcopal Church clergy and lay employees. Direct peer to JRB as a denomination-specific 403(b)/church plan administrator with a similar product set (defined contribution plan, life and disability insurance, parsonage/clergy housing benefits) and mission-driven nonprofit governance.
• CBF Retirement (Cooperative Baptist Fellowship): CBF's retirement program offers 403(b)(9) and church plan options for Cooperative Baptist Fellowship ministers and staff. Direct peer to JRB as a Baptist denomination-specific retirement plan administrator with housing allowance support, comparable AUM scale, and bundled insurance benefits.
• Portico Benefit Services (ELCA): Portico administers retirement, health, and disability benefits for Evangelical Lutheran Church in America clergy and rostered leaders. Direct peer providing denomination-specific retirement plans (including church-plan-specific housing allowance features) with bundled insurance, comparable to JRB's structure and value proposition.
• GuideStone Financial Resources (Southern Baptist Convention): GuideStone administers retirement, insurance, and investment products for Southern Baptist pastors, church staff, and affiliated ministry workers. Direct peer at much larger scale with similar product set including 403(b)(9) church plan, integrated life/disability insurance, and curatated investment menu — useful as a "scaled-up" reference point for JRB.
• C.M. Russell Heritage Center Retirement Plan (Christian Church / Disciples of Christ): Pension Fund of the Christian Church (Disciples of Christ) administers a defined contribution retirement program for ministers and lay employees of the denomination. Direct peer operating a 403(b)(9)-style denominational plan with clergy housing allowance features, structurally analogous to JRB.

Broad incumbents

• TIAA: TIAA is a leading broad retirement plan provider for nonprofit, academic, and faith-based employers, offering 403(b), defined contribution, and advisory services. Broad incumbent competing for the same employer and employee participants as JRB, especially for non-clergy staff at Conservative Movement schools, camps, and organizations.
• Fidelity Investments (Workplace Investing): Fidelity provides 403(b) and 401(k) recordkeeping, investment options, and participant services to a wide range of nonprofit and faith-based employers. Broad incumbent competitor for the staff segment of JRB's participant base, leveraging scale advantages, brand, and digital capabilities.
• Vanguard (Retirement Plan Services): Vanguard offers low-cost retirement plan recordkeeping and investment services to 403(b) and 401(k) plans across the nonprofit sector. Broad incumbent with a brand aligned to JRB's low-fee positioning, increasingly relevant as state mandates push employers to evaluate open-architecture alternatives.

Emerging players

• PlanMember Financial Corporation: PlanMember specializes in retirement plan solutions for nonprofits, faith-based organizations, and small/mid-sized employers, with a focus on the 403(b) market. Emerging/segment-focused player with a similar target customer profile to JRB (small religious employers) but serving across denominations.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Joint Retirement Board for Conservative Judaism, Amutah,