A007 Invitation to CPF to Forecast Effects of Reduced Pension Assessment Obligations on Clergy Deployment and on Benefit Levels
This resolution was referred from the 80th General Convention. It was proposed by Legislative Committee 17 - Agencies & Boards, listed as 2022-A163, and referred to Legislative Committee 17 - Agencies & Boards
Discussions before the Committee suggest that the 18% pension assessment rate discourages the deployment of clergy to historically non-white and small congregations. This resolution asks that the Church Pension Fund to provide its best estimates to Executive Council of the effects that reducing the pension assessment rate would have on such deployments, as well as upon future retirement benefits. The resolution asks that the Church Pension Fund use its current economic forecast assumptions so that there will be an “apples to apples” comparison of the costs and benefits of such a change. A peer review of these forecasts is to occur to assist Executive Council and the wider church in the evaluation of the results.
Explanation
This resolution was referred from the 80th General Convention. It was proposed by Legislative Committee 17 - Agencies & Boards, listed as 2022-A163, and referred to Legislative Committee 17 - Agencies & Boards
Discussions before the Committee suggest that the 18% pension assessment rate discourages the deployment of clergy to historically non-white and small congregations. This resolution asks that the Church Pension Fund to provide its best estimates to Executive Council of the effects that reducing the pension assessment rate would have on such deployments, as well as upon future retirement benefits. The resolution asks that the Church Pension Fund use its current economic forecast assumptions so that there will be an “apples to apples” comparison of the costs and benefits of such a change. A peer review of these forecasts is to occur to assist Executive Council and the wider church in the evaluation of the results.