The Board of Pensions offers several benefits options for 2021 that can add value for employees, at little or no cost to employers.
As churches and employers complete Employer Agreements for 2021, consider these options that can help engage employees and add value to their workplace benefits program — at little to no cost to your organization. Many of these benefits have no hourly work requirement for employees to participate, so you can offer them to full- and part-time employees regardless of the number of hours they are regularly scheduled to work.
Dental Plan, for a wide range of services, includes preventive and diagnostic care, basic and major restorative care, and orthodontia. Benefits are administered by Aetna, and you may choose to pay all, some, or none of the cost for coverage. There is no hourly work requirement.
Vision Eyewear Plan, administered by VSP, helps with the cost of prescription eyewear by providing an annual allowance for glasses or contacts. You may choose to pay all, some, or none of the cost for coverage, and there is no hourly work requirement.
Dependent care flexible spending accounts, administered by Further, allow employees to set aside pretax dollars to pay for eligible child and elder care expenses. You may, but are not required to, contribute to employee dependent care FSAs, and there is no hourly work requirement.
Term Life Plan offers the same low-cost coverage as the 2020 Benefits Plan, with an additional feature for employers for 2021. You can choose to offer a fixed amount of coverage up to $50,000 or, new for 2021, a salary-based benefit amount (up to $50,000). No evidence of insurability is required at any time. You may offer term life coverage to employees working at least 20 hours per week who are not enrolled in the Death and Disability Plan.
Supplemental death benefits offer extra protection, for employees covered under the Death and Disability Plan or the Term Life Plan, at little to no cost. You decide whether to share in the cost of this benefit.
Retirement Savings Plan of the Presbyterian Church (U.S.A.) is a 403(b)(9) defined contribution plan through Fidelity Investments that allows for tax-advantaged savings with low annual fees for participants. There is no hourly work requirement for employees to participate.
Log on to Benefits Connect to complete your 2021 Employer Agreement by October 9. When you log on, you’ll see brand-new options for 2021, including a new benefits package for ministers, called Minister’s Choice, and two new disability plans, the Temporary Disability Plan and Long-Term Disability Plan.
Already submitted your agreement? If you decide you would like to add a new benefit (other than medical), you can still log on to Benefits Connect and make changes through October 9. To add medical coverage, contact the Board of Pensions for pricing.
Need additional information about or guidance selecting the best options for you and your employees? We’re here to answer questions about benefits for 2021. Call the Board of Pensions at 800-773-7752 (800-PRESPLAN).