Church Benefits Board

What Church Benefits Board does

Church Benefits Board (CBB) is a nonprofit ministry established in 1998 by the Cooperative Baptist Fellowship (CBF) General Assembly to administer retirement and benefit solutions for ministers, church staff, and nonprofit leaders affiliated with CBF. The organization is headquartered in Glen Allen, Virginia, operates with a lean team of approximately six staff (President Rob Fox, VP Jenny Clore, Director Nicole Averette, Director Beth Jones, plus a 12-member Board of Trustees), and is governed independently under the CBF umbrella as a ministry entity rather than a commercial venture.

CBB's core product is a 403(b)(9) Retirement Plan — an IRS-qualified church plan that uniquely enables retired ministers to receive distributions designated as a tax-free housing allowance under IRC Section 107 and IRS Revenue Ruling 75-22. The plan is administered through Empower as recordkeeper and supported by Fiducient Advisors as investment consultant, with participant fees of 75 basis points administrative plus an average ~94 basis points total (under 1% for most participants) and no cost to participating employers. Beyond the retirement plan, CBB distributes employer-paid group life, disability, and AD&D insurance through Reliance Matrix, MetLife, and Transamerica; brokered health insurance via the Hilb Group; international travel coverage via Gallagher; and an EAP. Financial wellness services include free CFP-led planning with a $500 incentive, Financial Wellness Education Experiences (FWEEs), Learn @ Lunch webinars, and First Call Grants for new ministers.

The business model is asset-fee-based (basis points on retirement AUM) supplemented by grant funding for wellness programs, distributed through church-employer adoption agreements and CBF network referrals. Recent product expansions — Short-Term Disability (effective May 2026), Secure Foundation II in-plan annuity, and Transamerica personal life insurance — signal incremental product-surface deepening within the existing CBF channel rather than market expansion. All technical operations (recordkeeping, enrollment, payroll contributions, claims) are outsourced to a curated partner stack; CBB itself does not develop core platform technology and has no disclosed AI/ML capabilities.

Name

Church Benefits Board

Legal name

Church Benefits Board, Inc.

Website

https://churchbenefits.org

Company type

Private

Founded year

1998

Operating status

Operating

Short description

Church Benefits Board is a Glen Allen, Virginia-based nonprofit ministry of the Cooperative Baptist Fellowship that administers a 403(b)(9) Retirement Plan — enabling the clergy housing allowance tax benefit — plus group insurance, voluntary benefits, and financial wellness programs for ministers and church staff affiliated with CBF.

Ownership category

akta.pro rank

Product category

Retirement Plan Administration

NAICS

Pension Funds (525110), Health and Welfare Funds (52512), Grantmaking and Giving Services (81321), Religious Organizations (8131)

SIC

Life Insurance (6311), Accident & Health Insurance (6321), Insurance Agents, Brokers & Service (6411), Hospital & Medical Service Plans (6324)

akta.pro industry

PRIMARYBPAGAJAA

Local Congregations & Worship Communities (Churches, Mosques, Temples, Synagogues)

Business & Public Services/Nonprofit, NGO & Social Services/Religious & Faith-Based Organizations

SECONDARYFSAAANAI

Philanthropic & Charitable Trust Services

Financial & Insurance/Asset & Wealth Management/Trust & Fiduciary Services (Trust Companies, Estate & Custody Trusts)

Keywords

• Retirement plan administration
• Church employee benefits
• Clergy financial planning
• Group insurance brokerage
• Nonprofit benefits services

Headquarters

HQ city

Glen Allen

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Administrative Fees: CBB charges 75 basis points (bps) for CBB and Empower administration of the retirement plan. When factoring in investment options, average management fee plus investment fee is 94bps. Retirement fees for a majority of participants are less than 1%.
2. No Cost to Employers: There is no cost for employers to participate in the Church Benefits Board 403(b)(9) Retirement Plan. All fees are assessed to employees based on their individual portfolios.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels11 records

Core offering

Church Benefits Board administers a 403(b)(9) retirement plan and coordinates a suite of insurance products (group life, STD, LTD, AD&D, personal life, health, and international travel) for ministers, church staff, and nonprofit organizations affiliated with the Cooperative Baptist Fellowship. The organization also delivers financial wellness services including free CERTIFIED FINANCIAL PLANNER-led planning, financial advice and rollover support, educational webinars, in-person Financial Wellness Education Experiences, and First Call Grants for new ministers.

Product overview

Church Benefits Board (CBB) operates as a nonprofit ministry of the Cooperative Baptist Fellowship offering a coordinated suite of retirement and benefits products for ministers, church staff, and nonprofit organizations. The core product is the IRS-qualified 403(b)(9) Retirement Plan — a church plan that uniquely enables the clergy housing allowance benefit — administered through Empower as recordkeeper. This is paired with employer-paid Group Life, STD, LTD, and AD&D insurance (via Reliance Matrix) and an optional Personal Life Insurance policy (via Transamerica), plus health insurance brokerage through the Hilb Group. CBB differentiates through financial wellness programs including free financial planning with a $500 incentive, financial advice, Financial Wellness Education Experiences (FWEEs), and First Call Grants for new ministers. An in-plan annuity (Secure Foundation II) provides guaranteed retirement income within the plan. All services are delivered through a partner network including Empower, Fiducient Advisors, Reliance Matrix, MetLife, Transamerica, the Hilb Group, and Gallagher.

Differentiator

Problem solved

Functional benefit

Brands

• Financial Wellness Initiative (FWI): A set of entrepreneurial resources for ministers to transform their personal and family's financial health to be better equipped to serve their congregations and communities. Includes financial education experiences, financial planning services, and First Call Grants.

Products and services

• 403(b)(9) Retirement Plan An IRS-qualified 403(b)(9) church retirement plan designed for ministers, church staff, and nonprofit leaders. Allows pre-tax and Roth after-tax employee contributions, employer basic and matching contributions, and uniquely enables the clergy housing allowance benefit for retired ministers. Administered through Empower as recordkeeper with fiduciary oversight by CBB's Investment/Finance Committee.
• Secure Foundation II In-Plan Annuity An in-plan annuity option within the CBB 403(b)(9) Plan that provides guaranteed lifetime retirement income with upside potential and downside protection. Retains the clergy housing allowance benefit for retired ministers and can be rolled back into other CBB plan investment options if participant needs change. Available to CBB 403(b)(9) Plan participants with extremely low annual fee and no commissions.
• Group Life, STD, LTD, and AD&D Insurance

Quantifiable outcome

• Retirement fees less than 1% for majority of participants
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature2 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• EmpowercoreTechnology or Integration · 1 January 1998Empower is the recordkeeper for the CBB 403(b)(9) Retirement Plan. They process contributions and distributions, provide access to FINRA licensed advisors, offer free financial planning with CFP professionals, and administer participant accounts. Empower is the second-largest retirement services provider in the United States.
• Fiducient AdvisorscoreStrategic or Co-development PartnerFiducient Advisors is an independent, employee-owned investment consulting firm that works with fiduciary clients including retirement plan sponsors, institutional investment pools, nonprofit organizations, and private clients. They serve as plan adviser partners providing investment consulting.
• Reliance MatrixcoreTechnology or IntegrationReliance Matrix provides Group Life, Short-Term Disability, Long-Term Disability, and Accidental Death & Dismemberment (AD&D) insurance for domestic church employees. Also provides the Employee Assistance Program (EAP) with counseling, life coaching, legal/financial consultation, and identity protection.
• MetLifecoreTechnology or IntegrationMetLife provides Group Life, Long-Term Disability, and AD&D Insurance especially designed for CBF international field personnel. Coverage includes repatriation benefits and EAP services including grief counseling, will preparation, and estate resolution.
• Hilb GroupcoreChannel Partner/ Reseller/ DistributorHilb Group is a multi-state employee benefits agency that assists CBB with health insurance solutions for individuals and congregations. They help with fully insured or level-funded group health insurance and ACA individual health insurance.
• TransamericacoreTechnology or IntegrationTransamerica provides Personal Life Insurance - a permanent, portable, guaranteed issue policy for CBB participants. Policy is employee-paid through payroll deduction and includes spouse/dependent coverage options.
• GallagherminorChannel Partner/ Reseller/ DistributorCBB references Gallagher for International Medical Travel Insurance services for CBF personnel traveling internationally.
• Evangelical Council for Financial Accountability (ECFA)coreStrategic or Co-development PartnerECFA partners with CBB to provide free downloadable tax guides including the Minister's Tax & Financial Guide and Church & Nonprofit Tax and Financial Guide. ECFA is an accreditation organization for Christian churches and nonprofits.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ministers & Missionaries Benefits (MMBB): MMBB is a faith-based benefits organization offering retirement plans, insurance, and financial services to pastors, missionaries, and church employees — directly comparable to CBB as a denominational benefits administrator.
• Guidestone Financial Resources: Guidestone provides retirement plans, insurance, and investment services specifically to Southern Baptist churches and ministries — closely paralleling CBB's denominational benefits model within the Baptist ecosystem.
• Church Pension Group: Church Pension Group administers retirement, health, and welfare benefits for Episcopal Church clergy and lay employees — a near-identical model to CBB serving a different denomination.
• Portico Benefit Services: Portico provides retirement, health, and disability benefits to Evangelical Lutheran Church in America (ELCA) rostered leaders and their families — directly analogous to CBB's denominational benefits platform.
• Christian Church (Disciples of Christ) Pension Fund: The Disciples of Christ Pension Fund administers retirement plans and ministerial benefits for Disciples clergy — comparable in structure, mission, and clergy-specific focus to CBB.
• United Methodist Personal Investment Plan (UMPIP): Wespath Investments (formerly General Board of Pension and Health Benefits) administers retirement and health benefits for United Methodist clergy and lay workers — directly comparable denomination-specific benefits model.
• Benefits for ELCA rostered leaders (via Portico): Already listed (Portico) — overlapping with previous entry.

Emerging players

• Brotherhood Mutual Insurance Company: Brotherhood Mutual provides property/casualty and benefits insurance to churches and ministries — overlapping with CBB in serving faith-based organizations with insurance products, though focused on P&C rather than retirement.
• GuideStone / ABWE Retirement Solutions: GuideStone serves a broader evangelical and Baptist ministry audience with retirement and insurance — comparable target market to CBB with overlapping benefits products.

Regional players

• Christian Healthcare Ministries: CHM provides faith-based health cost sharing for Christians — adjacent to CBB's health insurance brokerage offering and serves a similar faith-based demographic in the U.S.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/churchbenefits
• YouTubeyoutube.com/playlist?list=PLyQjUDNfSMHclmaLbKRJpOsj8P3rIrr4X
• Facebookfacebook.com/churchbenefitsboard
• LinkedInlinkedin.com/company/church-benefits-board

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 Church Benefits Board