Because effective salary affects employers and Benefits Plan participants, timely and accurate reporting of employee salary information is important.
As we begin the new year, employers are encouraged to review — and update or confirm — effective salary for all members (even if there is no change).
Keep in mind that effective salary impacts employers and Benefits Plan participants in a number of ways, including pension dues and pension credit accrual; death and disability dues and benefits; medical dues under Pastor's Participation; and deductibles and copayment limits under the medical PPO option. Timely reporting ensures that congregations and employers are properly invoiced, and ministers and employees receive the appropriate benefits.
Throughout the year, whenever a member’s salary changes (including cash salary, housing allowance, employer contributions, SECA, bonus amount, and other allowances), the employer must report it to the Board of Pensions within 60 days of the effective date. For example, a salary change that took effect January 1, 2021, must be submitted through Benefits Connect no later than March 1, 2021.
Log on to Benefits Connect as the Employer Representative, and select Manage Employees from the top of the screen. Click on the name of the member for whom you are confirming or updating effective salary. If a member’s salary remains unchanged, choose Confirm Salary on the next screen. To update salary information, choose Change Salary, enter the effective date and dollar amount of any changes, click the box to confirm the accuracy of the information you provided, and Submit the change.
When reporting a salary change with an effective date in the future, keep in mind that the member's new salary will not appear in Benefits Connect until the effective date.
For more details, see How to Change or Confirm Effective Salary in the Resources box on the Manage Employees page of Benefits Connect. If you have questions, call the Board at 800-773-7752 (800-PRESPLAN) Monday through Friday, 8:30 a.m. to 7 p.m. ET.