Members of the Board of Pensions
Bill Hooper, Plan Administrator – BillHooper@MCCchurch.net
Rev. Wesley Mullins, President – firstname.lastname@example.org
Keith Thompson, Vice President – email@example.com
Tony Somora, Treasurer – TTSTL45@yahoo.com
Rev. Alycia Erickson, Clerk – firstname.lastname@example.org
Rev. Tom Emmett – email@example.com
Hank Hueber – firstname.lastname@example.org
Rev. Carolyn Mobley – email@example.com
Jeremiah Nelson – firstname.lastname@example.org
The UFMCC Board of Pensions (USA) serves as the Trustee and fiduciary for the fellowship’s Defined Benefit Plan and Trust, which provides retirement benefits for MCC ordained clergy serving churches in the USA. Members of the BOP are appointed by the Governing Board for four-year terms and by law, are responsible for management and oversight of the Defined Benefit Plan.
As stewards of MCC’s pension plan, the goal of the BOP is to ensure that church contributions to the Plan are well managed and wisely invested, to provide maximum benefit. We do this through identification and oversight of balanced investment portfolios managed by qualified financial advisors.
Board of Pensions general email: BOP@MCCchurch.net
Opportunity to Serve on the Board of Pensions, USA
Our MCC clergy are the lifeblood of our community. The MCC Pension Plan is one way we show them we care about their future. The Board of Pensions is an active board which not only oversees the clergy pension plan, but strives to improve and expand it as well.
We have 1 opening on our National Board, which carries a four-year term. The current opening is a clergy position. Investment knowledge, marketing, communication and/or technological skills would perfectly complement our Board make up. Please contact us for more information. The successful candidate will be appointed by the Governing Board and Moderator.
Our deadline to receive resumes/references is January 23, 2015. Please send to Keith Thompson, Vice President, MCC BOP: email@example.com.
Board of Pension Members
- An understanding of the mission and ministry of the organization.
- An understanding of the investment needs of the organization.
- An understanding of and willingness to update knowledge of investments and investment management.
- The ability to give and receive status reports and communicate essential information to the organization.
- Elect officers from their members.
- Formulate policies and objectives for the fund.
- Develop criteria for investments in consultation with financial consultants.
- Hire, evaluate, and if necessary terminate services of the investment consultant.
- Review and approve the development or revision of the Investment Policy.
- Monitor and make necessary decisions about investments.
- Work with the investment consultant to research and select appropriate investment funds and/or managers.
- Receive reports and recommendations and take appropriate action.
- Length of term is generally four years with additional consecutive terms possible.
- Ordinarily quarterly meetings will be held via conference call.
- Additional meetings may be called by the President or financial advisor.
- Attendance at yearly meeting (usually held first weekend in May).
The following are documents required to facilitate entry and management into the MCC Board of Pensions Defined Benefit Plan.
(right-click on form name and choose “save link as…” or “save target as…” download forms to your computer)
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. For more information about maintaining eligibility, see Article II of the Defined Benefit Plan.
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 BillHooper@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.
The following are the available final audits of the Board of Pensions benefit plan.