How to Participate
- Complete this online RCRP form. Once you receive acknowledgment from the RCRP staff that you meet our eligibility requirements and are welcomed to the Plan, you can then move to Step 2.
- Complete the required RCRP Employer Adoption Agreement.
- If you are employed by a synagogue, a representative of the synagogue must complete the Adoption Agreement electronically via DocuSign. For a view only pdf of the Adoption Agreement, click here.
- If you are self-employed, you will participate in the plan directly and need to complete and sign the Adoption Agreement electronically via DocuSign. Check the box in Section A, option 2.
- A non-profit which is not a synagogue should not complete the adoption agreement. As the participating Rabbi or Cantor, you will need to complete and sign the Adoption Agreement electronically via DocuSign. Check the box in Section A, option 3.
- Open an account at Fidelity by completing this online enrollment.
- The Plan ID number will be sent to you after the RCRP enrollment form has been completed.
- For date of hire, enter the approximate date you signed up as a participant in the Rabbis and Cantors Retirement Plan. For Fidelity’s purposes, RCRP is considered your employer during your participation in the plan, while you are working and in retirement.
- Initially, your RCRP account at Fidelity will have a balance of $0.
- Fidelity phone number: 800-343-0860
- Set up contributions. Contributions to participant accounts are made through Fidelity's online Simplified Contribution Platform (SCP).
- The person who will be making the contributions (either the employer/synagogue in most cases or the Rabbi directly who is not working for a synagogue) completes this request for access form. If you are employed by a non-profit other than a synagogue, then the non-profit can either submit your contributions for you or you can contribute directly. If you have a question about who is required to make the contributions, please let us know.
- The individual who requests access will receive notification from Fidelity when access has been approved.
- Refer to the User Guide for Simplified Contribution Platform for instructions to set up your SCP access, link a bank account, and make contributions.
- It will take 10 business days to link the bank account before the first contribution can be made.
- Click on this link for some helpful FAQs: Simplified Contribution Platform - FAQ
- Fidelity SCP Customer Service: 800-917-4369 or email at SCPHelp@fmr.com.
- Link to the Simplified Contribution Platform (SCP)
- If your employer will be deducting your contributions from your paycheck, you can use this optional form Fidelity Salary Deferral Form, and give it to your employer. This form does not have to be submitted to Fidelity or RCRP.
- Please note that contributions need to be received by Fidelity no later than December 15 to be processed and included in the current tax year.
- Name beneficiaries to ensure that your benefits will be distributed according to your wishes.
- To navigate to your beneficiary designations online:
- Log on to Fidelity NetBenefits.
- Click the Profile link.
- Select Beneficiaries* and follow the online instructions.
- Once you have completed your beneficiary designations, you will be able to view them on NetBenefits®.
- Please be sure to review your choices regularly and update them after certain life events, such as a marriage, divorce, birth of a child, or a death in the family.
- If you have questions or need to name a charity as a beneficiary, please call 800-343-0860 to speak with a Fidelity representative.
- Choose your investments. Click on "Investments" in your Fidelity account. The investment options are categorized into four tiers for fund choices. The term "tiers" is not used on Fidelity platforms, but it is helpful to understand the options. This will help simplify choices for you. You can get more information on each fund, including returns, major investments, and net annual expenses (costs) by clicking on the name of the fund in the list. Also, you can change your investment choices at a later date directly with Fidelity without contacting RCRP.
List of Mutual Funds Available for Investment at Fidelity Participants can always get the most up to date investment information by logging into www.netbenefits.com and going to the investment section.
Please note that RCRP cannot give individual tax or investment advice. We highly recommend consulting a tax professional or financial planner.
Tier 1 ("ONE-FUND TARGET YEAR") is a group of Target Date Funds (a balance of stocks and bonds) based on your estimated retirement year. This could be your one-fund investment choice. This is the industry standard and simplest form of investing. Each of these funds is a mixture (balance) of stocks and bonds, varied on the basis of time to anticipated retirement. Note that there are two target date fund options for each retirement year: (for example 2040), Fidelity Freedom Index and Fidelity Freedom. The least expensive option is the Fidelity Freedom Index, for example FID FDM IDX 2040 INV (FBIFX).
Tier 2 is a short list of low-cost funds for those who prefer to choose their own investments, listed under "CORE FUNDS."
- Included are four Fidelity index mutual funds: (A US stock fund, an international stock fund, and two bond funds). There is also a money market fund.
- Also included are four low-cost Socially Responsible Investment (SRI) funds from Calvert, a well-known company in the fields of socially responsible investing and use of environmental, social impact, and governance (ESG) criteria. Investors preferring to use social screening criteria should be able to manage their retirement accounts with good options using these four funds. RCRP participants get the "institutional" rate for Calvert funds, with a lower cost, not usually available to individuals.
- SRI US stock (equity) fund: Calvert US Large Cap Core Responsible Index I
- SRI international fund: Calvert International Responsible Index I
- SRI bond fund: Calvert Green Bond I
- SRI balanced fund: Calvert Balanced I. This fund is approximately 60% stock and 40% bonds.
The RCRP investment committee believes that RCRP participants can manage their retirement accounts with good options using Tier 1 or Tier 2 choices only.
Tier 3 includes over 190 more Fidelity Funds. Fidelity has also begun several new Environmental, Social and Governance funds (ESG), with differing selection criteria, which are available through Tier 3 ("Expanded Options"). More information from Fidelity on sustainable investing funds is available here.
Tier 4 is the option to open a Fidelity brokerage account. This is the most self directed option. Most RCRP participants will not need to use Tier 3 or Tier 4, though they are an option.
Transfer/Rollover of Funds (if applicable). You may have funds, earned as a rabbi or cantor, in other retirement accounts such as an IRA or 403(b) account that you want to transfer/rollover to your RCRP account. Check the FAQ section of our website for more information, and to confirm these funds are eligible to be transferred to RCRP. Let us know you have funds to rollover and we’ll send you instructions.