The Board of Pensions continues to work to provide employers with more choices, and to serve more ministers with benefits that support wholeness. Employers may select a new benefits package for ministers called Minister's Choice when completing their 2021 Employer Agreement, for coverage effective January 1, 2021.
Every minister ordained in the Presbyterian Church (U.S.A.) should have access to benefits and programs that support wholeness. Every minister deserves to have their income and financial future protected, for themselves and their loved ones, throughout their ministry and when they retire.
Minister’s Choice is a new benefits package that provides this important financial protection for ministers and opens the door to the Board's education and assistance programs. By offering Minister's Choice, employers can help ministers have the protection and access they deserve.
There is no commercially available benefit that can reproduce the protection offered through Minister’s Choice. And, ministers enrolled in Minister's Choice will have access to important assistance and education programs that help cultivate wholeness and nurture ministries, like CREDO, Minister Educational Debt Assistance, and Healthy Pastors, Healthy Congregations — all through Minister’s Choice. These ministers will also have access to Board University and grants through the Assistance Program.
Any minister who is not an installed pastor and is employed at least 20 hours per week is eligible for Minister's Choice. Installed pastors must still be enrolled for Pastor’s Participation. Employers may offer Minister's Choice and select additional benefits from our Retirement Programs, Health Programs, and tax-advantaged accounts.
The cost to employers is 10 percent of effective salary.
Minister’s Choice is intended to ensure all ministers have a level of financial protection by providing the following benefits:
Defined Benefit Pension Plan includes special features such as experience apportionments and pension credit accruals at the greater of actual salary (capped at statutory limits) or employment classification median. Also included are survivor pension benefits for the life of the member’s surviving spouse.
Death and Disability Plan protects members in the event of a long-term disability and provides survivor benefits.
Temporary Disability Plan (new for 2021) provides an income benefit for up to 90 days after a 14-day waiting period. It provides members with 60 percent of effective salary, capped at the Internal Revenue Service maximum ($285,000 in 2020).
Employee Assistance Plan, a confidential resource through Cigna Behavioral Health, provides members with access to counseling sessions; financial, tax, and legal assistance; identity theft consultation; resources for child and older adult care; and more — at no cost to the member.
Access to the following assistance and education programs* that help foster wholeness:
Yes, employers may offer Minister’s Choice as well as other benefits, including one of the medical options available through the Medical Plan (PPO, EPO, or HDHP).
|||Pastor's Participation||Minister's Choice|
|Death and Disability Plan|||
|Temporary Disability Plan|||||
|Defined Benefit Pension Plan|
Included in package