Late-in-Life Income (LILI)

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Every retiree worries whether they have saved enough money to cover their expenses through the remainder of life or that of their spouse. Those who serve the church don’t often have plentiful savings and some opted out of social security. By purchasing a LILI, you can ensure you have a guaranteed income for you and your spouse throughout the end of your lives. 

Use your retirement savings to purchase “paychecks for life” 


Ensure you and your spouse don’t outlive your savings


Receive guaranteed income eligible for housing allowance 

What is Late-in-Life Income?

What if you could have guaranteed income for yourself and surviving spouse no matter how long you live?

Late-in-Life Income (LILI) is a Qualified Longevity Annuity Contract (QLAC) offered by PCA Retirement and Benefits in partnership with MetLife. When you purchase LILI, you are guaranteed income payments for the remainder of your life or that of your surviving spouse.

Because LILI is part of the PCA Retirement Plan, there are no sales commissions. This results in as much as 15% more income for you, compared to similar retail annuities. 

How does it work?

Talk with an RBI Retirement Planner to see if LILI is right for you.

Our team of qualified Retirement Planners understand ministry, finances, and are here to serve you.


Decide the age you want to start receiving payments, as late as age 85.

If you purchase LILI at age 65 for $50,000, you can receive monthly payments of $1,393 starting at age 85.*


Purchase a LILI using your existing retirement savings.

You can use the funds from your 403b to secure guaranteed income for life. The cost is the lesser of 25% of your retirement funds or $145,000. You can purchase LILI starting at age 55. 

Use the funds however you need.

There is no limitation on how you use the funds whether it is to pay bills, travel, or cover medical expenses. The funds are free from market risks so you can have peace of mind that they will be there as long as you need them.  For ordained ministers, income from LILI maybe be claimed as housing allowance.  

*This Metropolitan Tower Life Insurance Company illustration is based on the Metropolitan Guaranteed Income Program purchase rates as of January 1, 2021. This example uses the Lifelong Income for You (or single life annuity payment option). It does not include a pre-commencement return of premium guarantee, nor does it include a return of premium guarantee.

Ready to get started?

See what your lifetime income could be.

Talk with one of our Financial Advisors about LILI.

Our Retirement Planners

Rev. Paul Chi



Rev. David Anderegg, Jr. MBA



Rev. Stephen Maginas



Ingrid Krein



Explore LILI Resources



What is LILI?

Longevity Annuity Benefits


Q&A: Should pastors opt out of Social Security?

About PCA Retirement & Benefits

We guide PCA pastors and ministry workers through the complexities of financial planning and employee benefits, so they and their families are able to live generously in every season of ministry.


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