Ministers’ Transition Fund
Any ministerial member of the NC Annual Conference who is serving full time in an Episcopal appointment (including NC Annual Conference Institutions) is eligible to enroll in the MTF.
To see how you might benefit from participation in this plan, use the MTF Projection Tool (MS Excel file). Download this file by clicking on the link with the right mouse button and selecting “Save Target As.” Then, identify where the file should be saved on your computer’s hard drive.
For more information refer to the BOP Report D, pages 435-444 of the 2008 Conference Journal or contact JoAnna Cafferty, ext. 225.
Download the Enrollment and Beneficiary Designation Form.
There are a variety of payment methods available to MTF members. These methods include:
- Monthly Billing Option - the annual contribution is divided into equal monthly payments, withheld from the member’s salary on an after-tax basis, and included on the monthly pension bill sent from the NC Conference to the local church. To sign up for this billing option, complete the MTF Billing Enrollment form and return it to the address at the bottom of the form.
- Monthly Automatic Bank Draft – the annual contribution is divided into equal monthly payments and drafted from the member’s personal bank account. To sign up for this billing option, complete the Authorization Agreement for Automatic Debits form and return it to the address at the bottom of the form.
- Annual Billing for a lump-sum payment – the member will receive a contribution letter each October/November which details the payment due for that year. The lump-sum payment is due no later than January 31st of the following year. For example, the letter detailing the 2009 contribution is received by November 2009 and the payment is due by January 31, 2010. If the lump-sum payment is not received by January 31st, the member will lose either the year’s credit towards the dividend or the dividend declared for that year, depending on the member’s time in the plan.
For questions or help in determing which payment method may be best for you, please contact JoAnna Cafferty, ext. 225.
Response to Current Financial Market
In light of the current market, we have received several calls about people evaluating their personal financial situations. The General Board of Pensions and Health Benefits (GBOPHB) has addressed pension participants’ concerns in a questions and answers report posted on their website at http://www.gbophb.org. Also an informative article by the United Methodist News Service on the investment portfolio and processes used by the GBOPHB can be found here.
The Conference Pensions and Benefits office reminds pension participants that Ernst & Young Financial Planning Services are being made available again in 2010 to eligible participants free of charge. Participants can call Ernst & Young as often as they like and spend as much time on the phone as necessary. Ernst & Young Financial Planning Services are available to active participants and surviving spouses regardless of their account balance, and to terminated and retired participants with an account balance of at least $10,000. Eligible participants can take advantage of this free service by calling Ernst & Young directly at 1-800-360-2539 between 9:00 a.m. and 8:00 p.m., Monday through Friday.
Local Church Pension Bills
Please review your church’s bill carefully and contact JoAnna Cafferty , ext. 225 IMMEDIATELY if you have any questions concerning the amount, billing address, or pastor information.
New Option for Multi-station Charges - Churches on multi-station charges now have the option to split their monthly NC Conference pension bill among each church on the charge. The monthly charges will be split according to the compensation package (ex: salary, travel allowance, utilities allowance, housing) each church provides for the pastor. This will provide easier remittance of payments and more convenient internal accounting for the local church. Churches interested in having their monthly billings split should contact JoAnna Cafferty , ext. 225 in the Treasurer’s Office.
Payment by Automatic Draft - Church Treasurers, are you looking for an easier way to make your monthly pension payment? Consider having the payments deducted automatically from the church’s checking account. To enroll in this easy payment method, complete the Pension EFT Enrollment Form (PDF format) and return it to the address at the bottom of the form
Payment by Mail - Please send pension payments by mail to:
NC Conference/Pension Payments
PO Box 60342
Charlotte, NC 28260-0342
2011 Pension Worksheet
When filling out the 2011 Pension worksheet, if Utilities and/or Travel allowances are paid directly to the pastor and are included in the pastor’s paycheck, then they are considered NON-VOUCHERED allowances. These amounts will be included in Lines 2 & 3 on the worksheet for pension calculations. If Utilities and/or Travel allowances are paid either to the utilities company or the pastor based upon a bill received or written documentation provided, then they are considered VOUCHERED allowances. These amounts will be included at the bottom of the worksheet in the Vouchered Travel and Vouchered Utilities lines. They are not included in the pension calculation, but need to be collected by the Conference for other purposes.
Click here for further instructions on completing the pension worksheet, or contact JoAnna Cafferty, ext. 225.
Track Your Pension and Personal Investment Funds Online
The General Board of Pension and Health Benefits (GBOPHB) has a system to track your Pension and Personal Investment funds or PIP. The Online Account Services Information System, known as OASIS allows you to track your PIP by fund through any period you choose. You may also change the current and future allocations of your PIP funds at any time.
Visit the GBOPHB home page or go directly to the OASIS login page.
For More Information
For additional information please contact JoAnna Cafferty, ext. 225.
Pension-related downloads are available on the Downloads page.
