Complete 2012 Journal - 2012 NC Conference Journal

248 The North Carolina Annual Conference – 2012 Journal
(The following, Item VI, was approved by the 1997 Annual Conference to be placed in
effect at the conclusion of the Session of the Annual Conference, Year 2000:)
VI. Policies Related to Life and Health Insurance
A. The 2014 budget needed to fund health and life insurance, pension grants, administration,
etc., is $2,700,000.
B. Eligibility Policies
1. Five-Year Rule: A participant must be covered in the Conference insurance
plan for five consecutive and uninterrupted years immediately prior to the
date of retirement in order to retain insurance benefits after retirement.
2. Clergy persons who retire from the North Carolina Annual Conference with
twenty or more full time years of earned pension credit in the North Carolina
Annual Conference may receive life and health insurance benefits when the
clergy person attains age 62 and receives pension benefits or retires with thirty
(30) years of service and receives pension benefits provided at least twenty
(20) of the thirty years of pension credit is in the North Carolina Annual
Conference. The North Carolina pension credit record used to determine
insurance funding for retiring Deacons in Full Connection shall consist of
eligible North Carolina earned pension credit years in both the lay and clergy
pension plans.
3. Effective July 1, 2007, clergy persons who retire at age 59 ½ with 20 or
more years may remain on the Conference insurance plan, provided written
notification of this intent is provided to the Conference Benefits Manager.
The clergy person will be responsible for 100% of the applicable monthly
premium until the attainment of age 62 (Report B Section VI B2). At the
attainment of age 62, the monthly premium will be adjusted according to
the retirement rules in place at the time of retirement. Monthly premiums
will then be calculated at the applicable percentages as defined in Report B
Section VI D and E.
4. All retired clergy, spouses and surviving dependents must enroll in Medicare
part A and part B when first eligible.
5. Effective August 1, 1992, Pastors who discontinued 313.1, or Probationary
Members, 327.6, as well as Conference Members who are retired involuntarily,
358.3, who are granted Honorable Location, 359; who withdraw
to unite with another denomination, 360.1; who surrender the ordained
ministerial office 360.2; who withdraw under complaints or charges, 360.3;
and Conference Members who are placed on Administrative Location, 362
are ineligible to receive retirement health or life insurance benefits when
payments from the General Board of Pension and Health Benefits begin.
[Paragraphs noted are from The Book of Discipline, 2008]
C. Retirement prior to January 1, 2004
Clergy persons who retire prior to January 1, 2004 from the North Carolina
Annual Conference will be subject to the current rate policy as outlined below.
Effective January 1, 2004, there will be a minimum monthly contribution of $10
per participant (for all surviving dependents and retirees with a clergy retirement
date prior to January 1, 2004).
Effective January 1, 2012 the minimum monthly contribution as defined
above will be increased to $20 per month.