Petition 80546

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Basis of Pension Contributions (80546-FA-¶1506.19)

Amend ¶1506.19 as follows:
  
Actual compensation, limited by the denominational average compensation, is the basic contribution base of the Ministerial Pension Plan. Other options setting the contribution base as actual compensation limited by 150 percent of the denominational average compensation, or actual compensation, may be elected by the annual conference or other participating groups as they may determine . Effective January 1, 2007, pension contributions will be determined in accordance with the provisions of the Clergy Retirement Security Program. Actual compensation, limited by 200 percent of the denominational average compensation, is the basic contribution base of the Comprehensive Protection Plan.

Rationale

The changes to this paragraph will align it with the provisions of the Clergy Retirement Security Program which was approved by the 2004 General Conference and went into effect January 1, 2007.