Pensions and Welfare

CLERGY RETIREMENT SECURITY PLAN

The Clergy Retirement Security Plan (CRSP) is based on a percentage of “plan compensation” which includes salary plus either housing allowance or 25% of compensation for parsonage.

The CRSP is divided into two components:

• Clergy Retirement Security Plan-Defined Benefit (CRSP-DB)
  The Defined Benefit contribution is 12% of plan compensation limited by the DAC ($62,781 for 2012).
  
  Defined Benefit provides a monthly retirement benefit that is calculated using the following formula = 1.25%xDAC at retirement, multiply by years of credited service (reduced for less than full time appointment) after 12/31/06 divide by 12.
   
• Clergy Retirement Security Plan- Defined Contribution (CRSP-DC)
  The Defined Contribution is 3% of plan compensation.
  
  Defined Contribution provides convenient distribution options when you are eligible to access the money in your account balance. This includes a lump-sum distribution, partial distributions or a series of regular payments called “cash installment.”

CRSP Summary Plan Description

CRSP Enrollment Form

CRSP Waiver Form

Participants receive on-demand and quarterly account statements. For more information about your CRSP account, please call the General Board of Pensions and Health Benefits at 1-800-851-2201

Comprehensive Protection Plan

The Comprehensive Protection Plan (CPP) provides welfare benefits including: disability, death and survivor benefits for you and your family. Contribution is 3% of plan compensation.

CPP Summary Plan Description

2012 Benefits Amount for CPP

UNITED METHODIST PERSONAL INVESTMENT PLAN - OPTIONAL

The United Methodist Personal Investment Plan (UMPIP) is a personal investment plan available to all Clergy.

Benefits includes: Flexible plan design; before and after tax-deferred contributions; participant-directed investments; investment management options; socially responsible investments; accepts eligible rollover distributions; 24-hour Internet or telephone account access; hardship loans and withdrawals; multiple distribution options.

To enroll, please complete the enrollment form, sign and fax to the Benefits Office at 410-309-9794. This form must also be signed by the church treasurer. For more information please contact the General Board of Pensions and Health Benefits at 1-800-851-2201

UMPIP Summary Plan Description

UMPIP At-A-Glance

UMPIP 2012 Before and After Tax Form

UMPIP Election Investment Form