Post on 19-Jun-2015
description
transcript
Clergy Relations & Benefits
Caring for those who serve
Pension
All active clergy – full time, part time, student local pastor
Church is invoiced monthly
Pension Plan
CRSP – Clergy Retirement Security Program
General Board of Pensions and Health Benefits is the administrator
2 components to the plan:Defined BenefitDefined Contribution
CRSP
Defined BenefitPaid out as an annuity at retirementFormula:
1.25% x DAC at retirement x years of service in the CRSP plan
2% annual increase after retirement
CRSP
Defined Contribution
3% of compensation
Paid as cash at retirement
CRSP billing
Church is billed 12.22% of pastor’s compensation
3% for Defined Contribution 9.22% for Defined Benefit
Invoiced monthly via paper statement from the conference office.
UMPIP – United Methodist Personal Investment Plan
Optional Additional funds for retirement Set up at anytime Before-tax or After-tax contributions %age or $ basis “Hardship” withdraws allowed Accessible at age 59 ½ You can direct the investment
CPP
Clergy Protection PlanDeath and DisabilityFull time clergy only
CPP death benefits
Death of active full time clergy:
$50,000
Death of retired clergy:
30% of DAC at time of death
Spouse and dependent death benefits
CPP Disability
Must have 2 years in plan Can apply for benefits if unable to work for
at least 6 months due to disabling condition
Determination is made by GBOP 70% of compensation, paid monthly
CPP continued:
Optional Life Insurance Plan for Clergy enrolled in CPP
Enrollment through General Board open enrollmentSeptember 2010
HealthFlex
Full time Elders, Associate Members and Local Pastors – mandatory
Church pays for Clergy Umbrella Plan – includes:
Medical: United HealthCare Dental: Cigna Pharmacy: Medco Mental Health: United Behavioral Health Vision: VSP (Vision Service Plan)
HealthFlex
Optional dependent coverage – clergy responsible for payment
Billing is sent to the church Cost:
Clergy $675/month1 Dependent $604/month Family (more than 1 dependent) $953/month
HealthFlex
EligibilityMust enroll within 30 days of becoming full
timeDependent enrollment available:
Within first 30 days of eligibility Open enrollment – month of November Within 30 days of qualifying event
Including spouse losing other coverage Include dependent premium on Line 10 of Pastoral
Support Form
2010 Wellness Programs
Again for 2010! Virgin HealthMiles – pedometer
Earn up to $300
Must enroll to receive incentives for 2010
www.virginhealthmiles.com
HEALTHQUOTIENT (HQ)Must complete the HQ by August 31, 2010 or you will be accessed a deductible surcharge of $250/individual, $500/family in 2011
Go to http://www.gbophb.org/ and click on Healthflex/WebMD to get started
Receive 500 Healthmiles upon completion
2010 Wellness Programs
Procheck ScreeningComplete at Annual Conference and receive 2500 Healthmiles if enrolled in HealthFlex.
A Procheck Screening is a blood test. Provides information about:
Cholesterol Levels, Heart Disease Risk, Stroke Risk, Diabetes Risk And Management, Thyroid Abnormalities, Kidney Disease, Anemia Or Iron Overload, Liver Disease, And Prostate Cancer In Men
2010 Wellness Programs
Salary Reduction
Medical Reimbursement Account (MRA) Dependent Care Account (DCA)
Sign up during Open Enrollment (November)Line 9a and 9b of Pastoral Support FormBilled to church on invoiceMaximum of $5000/year
Healthcare Reform
Changes for 2011Coverage of dependents until age 26
regardless of student/dependent statusLifetime limit removed
Full Time or Part Time
For purposes of determining benefits – Full or part time status is based on
compensationCompensation is
Salary (line A) + Housing (line B),
or
Salary (line A) + Parsonage
On your Pastoral Support form
Full Time or Part Time
Full time compensation in 2010:Local Pastors - $40,807
Provisional Member - $41,807
Full Member - $42,370
Travel & Professional Expenses
Not included in calculation of full-time/part-time compensation
Include on Line 13 of Pastoral Support Form
Reimbursable expense, not divided by 12 and paid out
Moving Policy
Obtain at least 2 bids Consult with receiving church Church can apply for up to $1500 in
expense reimbursement Pages F-31 & 32 of 2009 Journal Contact Karen McNeely for reimbursement
Review
Full time clergy benefits:
CRSP (pension plan – PT and FT))
CPP (death and disabilty – FT only)
HealthFlex (health insurance – FT only)
Review
Part time clergy benefits
CRSP
Review
Full time or part time?Determined by compensation
Compensation: Salary + Housing /Parsonage Line A and Line B on Pastoral Support Form Travel & Professional not included
Review
Must enroll for benefits within 30 days of eligibility
Get enrollment materials from Trudy McManus or your district office
The Connection
Local Pastors connect to their District office
Elders and Deacons connect to Conference office
Orders and Chair of the FellowshipJim Downing, Order of the ElderBeth Freeman, Order of the DeaconDave Hackett, Chair of the Fellowship
Resources
Conference OfficeClergy Relations & Benefits573-441-1770, or toll free 877-736-1806Trudy McManus, ext 211Email: Tmcmanus@moumethodist.orgBenefit packets available
Resources
General Board of Pensions and Health Benefits Toll Free: 800-851-2201
Website: www.gbophb.org