Full Time Clergy Benefits
FE (Elder In Full Connection) AM (Associate Member) PM (Probationary Member) PE (Probationary Elder) FL (Full Time Local Pastor) MOD (Minister, Other Denomination) FE, AM, PM, PE, (On Loan, Other Annual Conference) *FD (Deacon In Full Connection) *FP (Probationary Deacon) 1) Ministerial Pension Plan(MPP) Yearly Computation: 12% Of Base Salary (Excluding Accountable Reimbursement) Plus Parsonage Factor Of 25% Or Housing Allowance. Example: $30,000 Base Salary, Plus 25% Parsonage Factor Equals $37,500, Multiplied By 12% Equals $4,500 (If No Housing Or Parsonage Factor, Use Base Salary Only.) Note: If Clergy’s Salary Exceeds The Denominational Average Compensation (Dac), The Computation is Capped At 12% Of The Dac ($52,394 For 2006). Example: 12% Of $52,394 Equals $6,287 2) Comprehensive Protection(CPP) (Life Insurance, Disability And Survivor Benefits) Yearly Computation: 4.4% of Base Salary (Excluding Accountable Reimbursement), Plus Parsonage Factor Of 25% Or Housing Allowance Example: $30,000 Base Salary, Plus 25% Parsonage Factor Equals $37,500, Multiplied By 4.4% Equals $1,650 (If No Housing Or Parsonage Factor, Use Base Salary Only.) Note: If Clergy’s Salary Exceeds Two Times the Denominational Average Compensation (DAC), The Computation is Capped At 4.4% Of Two Times the DAC ($104,788 For 2006). Example: 4.4% of $104,788 Equals $4,611 Note: If A Clergy’s Compensation Is Less Than 60% Of The Denominational Average Compensation (DAC), Their CPP Computation Is 3.4% Of The Current Year’s DAC Example: 3.4% Of $52,394 Equals $1,781 3) APPORTIONMENTS (NO. 405 ON TREASURER’S REPORT) This Is The Same As The Conference Health Plan (CHP) Yearly Computation: All Salary- Paying Units With A Full-Time Clergy Serving Their Church Must Pay $7,200 (For 2006). Salary Paying Units With A Full-Time Associate Do Not Have To Pay This If Their Associate Can Show Evidence Of Health Insurance Coverage Elsewhere. *FD & PD May Participate In Either The Ministerial Pension Plan (Mpp) Or The Cumulative Pension And Benefit Fund (Cpbf). The Salary Paying Unit Chooses Which Plan They Wish To Participate In By Signing An Adoption Agreement Through The General Board Of Pension And Health Benefits. Computation For Funding Would Need To Be Determined At The *FD & PD May Participate In Either The Comprehensive Protection Plan (Cpp) Or The Basic Protection Plan (Bpp). The Salary Paying Unit Chooses Which Plan They Wish To Participate In By Signing On An Adoption Agreement Through The General Board Of Pension And Health Benefits. Computation For Funding Would Need To Be Determined At The *FD & PD Participate In Either The Clergy Conference Health Plan Or The Lay Employee Health Plan. Computation For Funding Would Need To Be Determined At The For More Details Or Information Regarding Obligations And Benefits Related To A Specific Church Or Clergyperson, Please Contact The Conference Office Of Pensions And Related Benefits (1-800-768.6040, Ext. 129 Or 130)..
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