Serving Those Who Serve The Church
The goal of MCC’s Board of Pensions is to maintain a well-managed fund and dependable service to licensed, ordained MCC Clergy who faithfully served UFMCC’s mission and ministry. Working with eligible clergy and responsible financial advisors, we work to contribute a reliable, secure addition to your retirement plans.
The UFMCC Defined Benefit Pension Plan and Trust is a secure retirement program that serves those who serve the church. Our sole purpose is to serve our members: licensed, ordained clergy of the Metropolitan Community Churches who serve ministries in the USA.
The Board of Pensions pursues an investment strategy and portfolio that offers our participants secure, well-funded pension plans. Through sound investment advice and responsible plan administration, we seek to increase the value of pension benefits and protect our participants from market fluctuations.
Members of the Board of Pensions (USA)
Plan Administrator: Tammy Erwin BOP@mccchurch.net
President: Rev. Tom Emmett email@example.com
Vice-President: Keith Thompson firstname.lastname@example.org
Treasurer: Tony Somora email@example.com
Clerk: Jeremiah Nelson firstname.lastname@example.org
Rev. Dewayne Davis email@example.com
Rev. Alycia Erickson firstname.lastname@example.org
Rev. Wesley Mullins email@example.com
Frieda Smith firstname.lastname@example.org
The following are documents needed for clergy upon enrollment in the plan, and when they wish to receive the benefit. Also included below are the forms needed for quarterly contributions to the Plan. If you have any questions, please email the plan administrator (email@example.com).
(Updated: 18 January 2017)
Frequently Asked Questions
What is the Defined Benefit Plan?
The Defined Benefit Plan is a pension plan that offers each participant retirement benefits based on a defined or predetermined formula based on years of credited service.
Who is eligible to join the Defined Benefit Plan?
Licensed MCC clergy serving in the U.S. and who have completed four consecutive years of service in an approved ministry are eligible to join the Plan. They are automatically enrolled in their fifth year.
What Benefits can be expected from the Defined Benefit Plan?
UFMCC’s Defined Benefit Plan is intended to serve as a supplementary retirement benefit in that this plan will not provide sufficient income to meet your retirement needs. The plan also provides benefits in the event of disability or death. You should plan for additional sources of retirement income.
How is the Plan funded?
The Defined Benefit Plan is funded from mandatory contributions from churches of $0.75 per church member per month paid quarterly.
How are Plan funds invested?
The plan consists of a balanced portfolio in professionally managed and monitored mutual funds. The Board of Pensions oversees investments and is guided by an Investment Policy Statement.
How do I enroll in the Defined Benefit Plan?
Effective 01/01/12 clergy are now automatically enrolled in the plan. We encourage those clergy to send us at least the beneficiary portion of the Enrollment – Beneficiary Form including all soc. Sec. numbers so we can find them in later years. You may e-mail the form to BOP@MCCchurch.net or by postal mail to:
UFMCC Board of Pensions (USA)
P.O. Box 50488
Sarasota, Florida 34232 USA
Please make sure you receive confirmation that we received it.
When can I draw my retirement benefits?
Plan benefits are normally distributed upon retirement at age 65 years, or after 10 years of participation in the plan, whichever is latest. Plan participants must draw their retirement benefits no later than age 70.5. For more information, see Article IV of the Defined Benefit Plan and Trust.
How are retirement benefits paid out?
Plan participants may choose a lump sum payment or monthly annuity payments for life.
What if I become disabled before I reach retirement age?
Plan participants who become disabled (defined as unable to engage in any substantial gainful activity because of any medically determinable physical or mental impairment which can be expected to result in death or to be of long, continued, and indefinite duration) may begin receiving benefits upon Determination of Disability by the Board of Pensions. See Article VI of the Defined Benefit Plan for more information.
What if I die before reaching retirement?
If you die before reaching retirement age, your designated beneficiary will receive a distribution based on the greater of the value of your vested accrued benefit or the value of your contributions. For more information, see Article V of the Defined Benefit Plan and Trust.
Board of pensions (USA) proposes rate increase
Later this year eligible MCC clergy and Lay Delegates will be asked to increase each MCC Congregation’s quarterly investment into the UFMCC Pension Plan USA. Since its inception in 1984, the required quarterly amount that each US MCC must invest in the plan has not increased from $0.75 per church member, per month, paid quarterly.
Back in 1984, a first class stamp was 20 cents, a gallon of gas was $1.21 and the average price of a new car or truck was well under $10,000. A dozen eggs would only set you back a buck. A lot has changed since 1984, when Reagan was president, the movie “Ghostbusters” was a hit and “Dallas” & “Dynasty” were TV favorites, but one thing that has NOT changed is what the local church is required to set aside to thank and support their clergy in retirement. We believe it’s time to correct this oversight.
More Information About the Proposal
Q: What is the MCC Pension Plan USA?
A: It is a modest retirement supplement for licensed US MCC clergy.
Q: Why is this important?
A: In order to attract clergy to MCC it is important to provide benefits. Currently, this plan is the ONLY benefit that MCC provides to its clergy.
Q: How is it funded?
A: Currently each MCC Congregation pays $0.75 per member, per month, paid quarterly.
Q: Has there ever been an increase before?
A: No, there has never been an increase since the plan was created in 1984.
Q: What has been the impact of inflation on the actual contribution?
A: In today’s dollars, $0.75 in 1984 would be worth about $1.75. In other words, inflation has reduced the contribution by almost 60% over the last 32 years.
Q: Why don’t we decide this at our meeting in Victoria?
A: The MCC Governing Board determined that the General Conference business session already had before it a very large agenda and did not want to add another significant item of business.
Q: Instead of increasing the contribution, why can’t you make up the difference by seeking a higher return on the plan’s investments?
A: We have a strict investment policy that limits how aggressive (risky) we can be.
Q: How much do our clergy get from the plan when they retire?
A: It depends on several factors based on IRS regulations. MCC US clergy receive a unit benefit of $6 per month for every year of service and are vested in the plan after 10 years. At retirement, eligible clergy can either select a lump sum payout or a monthly annuity. The amount of the benefit varies, but it is currently not enough to retire on. It should be seen as “icing on the cake” of a clergy’s overall plans for retirement.
Q: What are the consequences if we keep the current rate of $0.75 per member per quarter?
A: We have a lot of clergy from the Baby-Boomer generation looking toward retirement. Together, their retirement will take a big bite out of the plan’s principle. It’s possible that benefits would have to be reduced for younger clergy in the future.
Q: What else can the local church do to support their clergy?
A: Local US congregations are encouraged to work with their clergy and a financial advisor to provide for additional retirement for MCC Clergy.