Part Time Clergy Benefits
*FE (Elder In Full Connection) *AM (Associate Member) *PM (Probationary Member) *PE (Probationary Elder) *FE, AM, PM, PE (On Loan, Other Annual Conference) **FD (Deacon In Full Connection) **PD (Probationary Deacon) PL (Part- Time Local Pastor) SP (Student Local Pastor) MOD (Minister, Other Denomination) 1) MINISTERIAL PENSION PLAN (MPP) Yearly Computation: 12% Of Base Salary (Excluding Accountable Reimbursement), Plus Parsonage Factor Of 25% Or Housing Allowance. Example: $20,000 Base Salary, Plus 25% Parsonage Factor Equals $25,000, Multiplied By 12% Equals $3,000. (If no housing or parsonage factor, use base salary only.) 2) COMPREHENSIVE PROTECTION (CPP) (Life Insurance, Disability And Survivor Benefits) Yearly Computation: No Benefit. Note: If Clergy Noted Above With * Is Categorized As 50% Or 75%, Their CPP Factor Is Based On 3.4% Of The Current Year Denominational Average Compensation (DAC) (52,394 For 2006). 3) APPORTIONMENTS (NO. 405 ON TREASURER’S REPORT) THIS IS THE SAME AS THE CONFERENCE HEALTH PLAN (CHP) YEARLY Computation: No Benefit. Note: Lay Employee Plan Is Available To Those Clergy Who Are Working 30 Hours Or More. Please Call **Fd & Pd 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. 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 Conferene Office Of Pensions And Related Benefits (1-800-768-6040, Ext 129 Or 130). |