The changes to the Benefits Plan for 2021 provide employers with more choices and flexibility to serve more people with benefits that support wholeness.
New disability options and an expanded Term Life Plan provide affordable alternatives to commercial equivalents.
Minister’s Choice is a new benefits package for ministers that offers important financial protection and expands access to assistance and education programs, such as CREDO and Sabbath Sabbatical Support. Employer cost is 10 percent of effective salary.
All aspects of the Benefits Plan continue to have the added advantage of the administrative resources and personalized service support from the Board of Pensions as well as reflect the stability brought by generations of careful and thoughtful financial stewardship.
The Long-Term Disability Plan is a separate plan from the Death and Disability Plan. Both plans include coverage for long-term disabilities lasting longer than 90 days, replace 60 percent of income, and are completely employer paid. The key differences between the two plans are as follows:
Minister's Choice includes all of the benefits of Pastor's Participation except for medical coverage. However, employers can combine Minister’s Choice with any one of the Medical Plan options as well as other benefits from our Retirement Programs, Health Programs, and Tax-Advantaged Accounts.
The Board recognizes that some ministers may not need the medical coverage offered through Pastor's Participation. Minister's Choice expands access to the unique Financial Protection Programs included in Pastor's Participation to ministers who are scheduled to work at least 20 hours weekly.
Through Minister’s Choice, employers can provide ministers with Defined Benefit Pension Plan, Death and Disability Plan, Temporary Disability Plan, and Employee Assistance Plan benefits, and access to assistance and education programs, for 10 percent of effective salary. The ultimate goal is to ensure that all ministers have comprehensive financial protection for themselves and their families throughout active service and into retirement.
If an employee is covered by workers’ compensation, and suffers a work-related illness or injury, the Temporary Disability Plan benefit will be offset by the amount of the workers’ compensation benefit. If an employee is not covered by workers’ compensation, a work-related disability is covered under the Temporary Disability Plan.
Some states have mandated disability programs in place; benefit levels vary by state. For employers in those locations, benefits from the Temporary Disability Plan will be offset by the amount of any state-mandated benefits for which the employee is eligible. If you need help determining how state-mandated coverage will affect your employees enrolled in the Temporary Disability Plan, call the Board of Pensions at 800-773-7752 (800-PRESPLAN).
FMLA, which applies only to employers with 50 or more employees, is a job protection benefit primarily, and does not require an employer to pay wages to any employee on leave; if an employee does receive income from sick pay or other leave benefits during FMLA, the temporary disability benefit is offset by the amount of those benefits.
The Temporary Disability Plan is a separate plan from the Death and Disability Plan and the Long-Term Disability Plan and is automatically included in both Pastor’s Participation and Minister’s Choice. Here are the key features:
In addition to the features currently available in term life coverage, beginning January 1, 2021, employers will be able to offer coverage equal to one times effective salary, up to $50,000.