April 10, 2014
(Submitted by Council on Finance and Administration & Conference Board of Pensions and Health Benefits)
The 2015 Pension/Benefit rate shall be determined by calculating the total projected 2015 CRSP and CPP premiums billed the Conference by the General Board of Pensions and Health Benefits for active clergy under appointment to local churches, staff, and disabled, an appropriate amount to cover unpaid premiums by local churches, and related administrative costs. Each local church with eligible clergy will be billed the proportional cost of their pastor’s pension/benefit costs based on a formula of $5,570 per full-time appointment (prorated in ¼ time increments) plus 7% of participants plan compensation for those churches whose clergy are eligible for CPP and 3% of participants plan compensation for those churches whose clergy are not eligible for CPP.
NOTE: (This represents no change in the formula in the pension/benefit billing rate calculation from 2014.)