ࡱ> IKH PbjbjR|R| 4B00 }JJJJJ^^^8t <^%FF\\\R%T%T%T%T%T%T%$}'/*zx%Jx%JJ\\% RJ\J\R% R%  #V#\?"#>%%0%*#,**V#*JV# x%x%%* : 2017 EXAMPLE OF HOW TO CALCULATE APPROXIMATE CRSP PENSION COST TO CHURCH & PASTOR with 2017 new Defined Benefit figure FIRST: Use 2017 cash salary + housing allowance OR if you have a parsonage: Take 25% of the cash salary to figure parsonage value and add that to cash salary. This amount = Plan Compensation Figure4 Example: (when parsonage provided) $40,000 cash salary X 25% = $10,000 parsonage value. Now add $10,000 + $40,000 = $50,000 which becomes your plan compensation figure. THEN: You take plan compensation figure, multiply by 7% (4% for CPP5 and 3% for DC3), add $5,825 DB2 per Full Time Employee 1 = Pension Amount. Use correct Defined Benefit (DB) amount; (Full Time appointment DB = $5,825) ( Time appointment DB = $4,368.75) ( Time appointment DB = $2,912.50) Example: using figures from above example $50,000 Plan Compensation Figure x 7% = $3,500 + $5,825 = $9,325 Annual Pension amount for Full Time Appointment using the above information. (Part time is prorated by % of appointment, in quarter time increments .75%, .50%)  FOR LESS THAN FULL TIME LOCAL PASTORS ONLY ( OR TIME APPOINTMENTS FOR A Local Pastor PLEASE USE (3% for DC NOT 7%). For less than time appointment please see below** Example: Half Time () Appointment with Parsonage, using $20,000 cash salary and 25% Parsonage Value PV $20,000 cash salary X 25% PV = $25,000 Plan Compensation Figure x 3% DC (Less than FT LP) = $750 + $2,912.50 ( DB) = $3,662.50 Annual Pension amount for Half Time Local Pastor **For Less than 50% appointments 2012 General Conference Legislation no longer allows CRSP for less than Time appointment. The Conference Board of Pension strongly encourages local churches with Clergy appointed less than 50% to support these clergy pensions with an amount equal to at least ten percent (10%) of these pastors salaries through the United Methodist Personal Investment Plan (UMPIP). Contact the General Board of Pension & Health Benefits regarding UMPIP contributions at 800 851 2201. IF THE CHURCH USES ACH (Automated Clearing House) ***** Incentive of 8% reduction to total amount is given ***** Example: Using figures for Full Time Appointment 8% x $9,325 = $746 discount $9,325 - $746.00 discount = $8,579 1FTE (FULL TIME EMPLOYEE, IF THE PASTOR IS TIME THEN YOU WOULD USE OF THIS FIGURE, & similarly) 2DB (DEFINED BENEFIT PORTION OF THE CLERGY PENSION PLAN, THIS FIGURE IS PROVIDED TO US EACH YEAR BY THE GENEAL BOARD) 3DC (DEFINED CONTRIBUTION) 4DOLLAR AMOUNT USED BY THE GENERAL BOARD TO DETERMINE PENSION BASIS 5CLERGY PROTECTION PLAN IS THE DEATH & DISABILITY COVERAGE FOR CLERGY & SPOUSES (less than full time Local Pastors are not eligible for CPP) 2017 PENSION INFORMATION OVER PLEASE 2017 HEALTH INSURANCE Health Insurance Local Church Share 2017 Blended Rate (Includes Dental)  $16,128 Annual Blended Rate $1,344 Monthly Incentive Amount If Using An ACH ACH Forms to be returned to Conference Office, Accounts Receivable $15,228 Annual Blended Rate $1,269 Monthly 2017 Pastors Share Insurance Premium Co-payment and Benefit Stabilization Fund Co-Pay: $205.00 for Health Insurance plus $45.00 for Benefit Stabilization Fund = $250.00 per month OR If Pastor completes the WebMD Health Quotient (HQ) health risk assessment online ***** Incentive of $50.00 reduction to monthly Co-Pay amount is given ***** Co-Pay: $155.00 plus $45.00 for Benefit Stabilization Fund = $200.00 per month PENSION INFORMATION OVER PLEASE      FILENAME \p C:\Users\dgagnon\Desktop\2017 EXAMPLE OF HOW TO CALCULATE final and HEALTH INSURANCE RATES.doc HIQRW[ahiovw|}~{n{ZPH=P=hBh5&5>*\h\C5>*\hBh5&5\&jhBh5&5U\mHnHuhBhD56\]hBh5&56\]hBh5&56>*\] *hBhX65CJ\aJ *h\C5CJ\aJ *hBh25CJ\aJhBhX65CJ\aJh 5CJ\aJhBh25CJ\aJhBh5&5CJ\aJh\C5CJ\aJ!Rw  A B e b($d%d&d'd7$8$H$NOPQp7$8$H$^p`7$8$H$^` 7$8$H$^gdGx@ 7$8$H$^@ ` 7$8$H$`gd37$8$H$+$$d%d&d'd7$8$H$NOPQa$ A B K e    ! % & 1 3 @ A B C D E H I J O P R ٺ}}uj_T_j *hDhP15\ *hDh5&5\ *hzh5&5\ *hX65\h5&5CJ\aJ h45\ hX65\ h|5\h5&56>*\]#hBh \56>*CJ\]aJhBh5&5>*CJ\aJhX6h5&5h8h5&5h5& h5&6] h5&5\h5&5CJ\aJhBh5&5\ e & E    B $ & 7$8$H$gd $7$8$H$a$@ 7$8$H$^@ `gd \7$8$H$&d 7$8$H$P ($d%d&d'd7$8$H$NOPQR S T Y ] ^ b c k m n o y | } ~  ׻wk_ShDhGxCJ\aJhDhP1CJ\aJhDh2CJ\aJhX6h5&CJ\aJh|CJ\aJhX6hX6CJ\aJhX6h8CJ\aJhX6hoCJ\aJhr5CJ\aJh \h \5CJ\aJ h~(-5\ h5\ hX65\ h5&5\h5&5CJ\aJ *hzh5&5CJ\aJ      @ A B I g h r u z } ~ ƺƢ|wokgk`Y`OhDh5&5\ hDh# hDh5&hbRh5&h8h5&5 h5h8h5hh6 h5\hBhGx5>*CJ\aJhX6hGxCJ\aJhDhJcCJ\aJhDh2CJ\aJhDh8CJ\aJh,qCJ\aJhDhGxCJ\aJhDh5&CJ\aJhDhoCJ\aJ~       ! 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