Complete 2012 Journal - 2012 NC Conference Journal

Section iV: Legislation and Reports 247
able upon the death of a spouse of an active or retired participant will be fixed
at $15,000. The death benefit payable upon the death of a surviving spouse of
a deceased active or retired participant will be fixed at $10,000.
D. Effective January 1, 2007, the cost of the Comprehensive Protection Plan (CPP)
will be funded by billing up to the calculated percentage to fund the CPP each
year using the rate required by the General Board of Pension. For 2012 the cost
is a total of 3% of the actual Plan Compensation up to 200% of the Denominational
Average Compensation (DAC). The pastor shall be required to pay 1% of
Plan Compensation (up to 1% of 200% of DAC) on an after tax basis and the
church or charge shall pay 2% of the Plan Compensation (up to 2% of 200% of
DAC). 1506.19 in The Book of Discipline 2008.
E. Per action by the General Board of Pension and Health Benefits the CPP premiums
will be redirected to fund the liabilities of other components of the pension
plan for 2011 through 2013.
V. Implementation of the Program
The benefit program adopted by your Conference Board of Pension seeks to
provide a wider range of support for the minister’s family through death benefits for
every member of the family, disability income for the minister in time of great stress,
educational benefits for children of deceased ministers, minimum annuity benefits for
surviving spouses, and clergy benefits based on the Denominational Average Compensation
(DAC).
A. Costs of the Clergy Retirement Security Program/Comprehensive Protection
Plan will be borne by the local charge as an item of ministerial support according
to the Plan Compensation of the minister and the category of the charge.
1. Effective January 1, 2007
FULL TIME (Conference Member/Local Pastor) – 10.4% of Plan Compensation
for CRSP – Defined Benefit portion and 3% of Plan Compensation
for CRSP - Defined Contribution portion and 2% of Plan Compensation
for CPP (up to 2% of 200% of the DAC)
STUDENT (Conference Member/Local Pastor) 10.4% of Plan Compensation
for CRSP – Defined Benefit portion and 3% of Plan Compensation for
CRSP - Defined Contribution portion
LESS THAN FULL TIME (Conference Member/Local Pastor) 10.4%
of Plan Compensation for CRSP – Defined Benefit portion and 3% of Plan
Compensation for CRSP - Defined Contribution portion
INTERIM OR RETIRED SUPPLY no pension responsibility
B. Effective January 1, 2007 Deacons and Probationary Deacons serving in Episcopal
appointments to a local church or other entity that falls under the pension
plan sponsorship of the Conference shall be enrolled in the plans according to the
plan document.
C. The pastor will make regular monthly payments to the Conference Treasurer’s
Office through the local church treasurer for his/her 1% of Plan Compensation
(up to 1% of 200% of the DAC) on an after tax basis for CPP.
D. It is recommended that the pastor make regular monthly payments through the
local church treasurer to the General Board of Pension and Health Benefits for
his/her personal taxpaid or taxdeferred contributions of at least 3%.