Pension Information

The average compensation for the Conference based on pastors' salaries of the past three years.
The 2009 CAC is $52,377. The 2010 CAC will be $54,227.

DENOMINATIONAL AVERAGE COMPENSATION
DAC is the average compensation for the denomination, based on pastors ' salaries. The 2009 DAC is $58,226. The 2010 DAC will be $60,341.

RENTAL/HOUSING ALLOWANCE RESOLUTION FOR RETIREES AND INCAPACITY PERSONS
Click here to print out the current  2009 Rental/Allowance Resolution
Clcik here to print out the 2010 Rental/Housing Allowance Resolution

 

PAST SERVICE RATE (PSR)
Past Service Rate (PSR) for 2009 is $521. For 2010 it will be $540.

TAX INFORMATION
Clergy Tax Information can be found at the General Council on Finance and Administration web site at www.gcfa.org. Page down until you see the link for Tax Information. You will find links for the following information:

Q&A on Local Transportation Expenses
Q&A on Housing Allowance
Q&A on Accountable Reimbursement Policies
Sample Expense Voucher Form
Short Form Accountable Reimbursement Policy
Long Form Accountable Reimbursement Policy
Local Church Tax Reporting Requirements
Form 941 Filing Requirements
IRS Letter on 941 Filing
Sample W-2
Information on Completing Form W-2 for Clergy
W-3 Reporting Requirements
Obtaining IRS Forms

2009 PENSION PLANS

Comprehensive Protection Plan (CPP) - CLERGY ONLY - is a church welfare benefit plan for eligible clergy of The United Methodist Church and their families. The Plan provides death and disability benefits and, under certain circumstances, supplemental pension contributions.

Each church is billed for this Plan directly from the Conference Service Center .

To calculate your CPP premium: take your base salary and add any housing exclusion, multiply by 1.25 if you are provided a parsonage. If there is a housing allowance, you add the exact amount of the allowance to your base salary and any housing exclusion. Multiply the total of the above computation by 3% and divide by 12 to get the monthly figure.

The salary cap for CPP premiums is 200% of the DAC. If your base compensation, housing exclusion, plus parsonage or housing allowance is over 200% of the Denomination Average Compensation, your CPP bill will be $301.71 a month for 2010 otherwise it will be 3% of your compensation calculation above.

*****IMPORTANT NOTICE*****
In order to qualify for CPP benefits, all full time clergy must receive a salary and housing equaling at least 60% of the Conference Average Compensation. For 2010 the CAC is 54,227. This means the minimum you can receive in compensation is: $26,029 base salary plus housing or a total of $32,536 in base salary and housing allowance.

Clergy Retirement Security Program (CRSP) - CLERGY ONLY - provides pension benefits for eligible clergy members of The United Methodist Church.

Each church is billed for this Plan directly from the Conference Service Center .

To calculate your CRSP amount: take your base salary and add in any housing exclusion, multiply by 1.25 if you are provided a parsonage. If there is a housing allowance, you add the exact amount of the allowance. Multiply the total of the above computation by 14.5% and divide by 12 to get the monthly figure.

United Methodist Personal Investment Plan (UMPIP) - CLERGY AND LAY - provides pension benefits to all eligible clergy, deacons in full connection, diaconal ministers, and lay employees using personal contributions. Each church is billed for UMPIP directly from the General Board of Pension . You are able to make elections on how you would like to invest your contributions. Please contact the General Board of Pensions in Evanston for more information.

United Methodist Personal Investment Plan (UMPIP)- LAY ONLY - provides pension benefits for deacons in full connection (if they choose this plan), diaconal ministers, and lay employees of The United Methodist Church and church related organizationsusing employer contributions. Please contact the General Board of Pensions directly for more information.

RETIRED MINISTERS' SUNDAY
Retired Ministers' Sunday is observed on a designated Sunday each year in the local churches of the Northwest Texas Annual Conference in honor of the retired ministers, their spouse, and surviving spouses. Your church can choose to support this item any time of they year.

For more information,
contact Jan Roberts, Director of Insurance and Pensions
806-762-0201, ext.17
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