Grace Chapel 403b Transition

To Plan Participants in the Grace Chapel 401(k) Plan:

As a result of Grace Chapel’s decision to establish a Church Retirement Program (403(b)(9) Plan), the current 401(k) plan will be terminated. 

Following the Plan’s termination and Federal regulations regarding this plan termination, it will be necessary to distribute the assets you have in this Plan directly to you as the account holder. 

Your account is currently slated to be liquidated and distributed to you. However, you do have the opportunity to roll over your assets in the Grace Chapel 401(k) plan to the new Grace Chapel 403(b)(9) Plan provided by Envoy Financial & Ministry Partners. A direct rollover from the 401(k) into the 403(b)(9) will prevent taxation on the distribution of your account. 

For those employees that wish to roll over their assets to the new Grace Chapel 403(b)(9) Retirement Plan, you must do so in writing by completing a Rollover Contribution Form with Envoy Financial by the end of day December 23, 2022You can only access this form by calling Envoy Financial’s Participant Services at 888-879-1376. 

After you have completed the Rollover Contribution Form with Envoy Financial, please fill out the 401(k) Plan Termination Distribution Request Form for Vanguard/Ascensus. You can find this form right below.

*will start downloading to your computer automatically.

If you do not send your written instructions on where to roll over your assets, you will be sent a check for the total amount of your Grace Chapel 401(k) Plan balance, minus applicable mandatory tax withholdings, to your address of record as a taxable distribution. Please refer to the Qualified Retirement Plan Distribution Notice section of your Grace Chapel 401(k) Summary Plan Description booklet for additional information regarding the available distribution options and their tax implications.

Since you are still employed, your contributions will continue but begin to be invested in the new Grace Chapel 403(b)(9) Plan through Envoy Financial. This Plan will also accept your Grace Chapel 401(k) Plan balances as a non-taxable rollover event and carries many advantages over rolling over to an IRA or other retirement product. Some of these would include, Envoy will monitor and help Grace Chapel employees select appropriate investment options on your behalf as a fiduciary, offer Biblically Responsible Investments so you can align your biblical values with your investing, and provide stellar support whenever you need someone to be there for you. 

We realize all this may not be very clear, but we have partnered with Envoy Financial & Ministry Partners to assist us in this transition. They are standing by to help answer any questions regarding this transition from the Grace Chapel 401(k) Plan and what they mean to you in your situation. 

For any Plan Investment-related questions, please get in touch with Bruce Traub, your Ministry Partners Stewardship Advisor, at or 559-431-0811