The Ministry of P&B USA Serving Those Who Serve - PowerPoint PPT Presentation

The Ministry of P&B USA Serving Those Who Serve www.pbusa.org/eohio Pensions and Benefits USA Church of the Nazarene

A Ministry Funded by Congregations, Districts, and Participants • History: 1919 • Purpose:  Serving the ministerial and lay employees of USA congregations and districts  Serving the USA congregations and districts in their role as employers • Sources of Funds  P&B Fund – 2.25% of allocation base  $149,073 paid, $225,767 received in 2017  Individual premiums and contributions  Investment earnings  Gifts Pensions and Benefits USA Church of the Nazarene

A Ministry Focused on FIVE Critical Questions • What if I live too long? • What if I die too soon? • What if I become disabled? • What if I get sick? • What if I get paid? Pensions and Benefits USA Church of the Nazarene

What We Provide • Critical information uniquely focused to meet your needs • Basic levels of insurance and retirement funded by the USA church • Supplemental benefit programs to assist your local church employer • Presence Pensions and Benefits USA Church of the Nazarene

Information  Taxes and compensation  Know your unique tax status  Don’t get behind in payments  Have your treasurer call us with questions  When structuring compensation know  The cost of a ministry  The cost of a minister  www.pbusa.org – stay alert to changes Pensions and Benefits USA Church of the Nazarene

Health Insurance • It is possible to go bankrupt due to medical expenses.  Harvard study - #1 Cause of bankruptcies (62%)  78% had some form of health insurance • The ACA addressed some of this problem, but created a lot of confusion. • We have partnered with GuideStone to assist congregations looking for coverage. • QSEHRA – a new rule, but may not last long • Don’t expect easy solutions any time soon. • Why don’t we do our own? “Individual Mandate.” Pensions and Benefits USA Church of the Nazarene

From P&B Fund Income We Provide Basic Protection  Life Insurance – determined by  Credential and assignment  P&B Fund payment  Disability Insurance  Retirement Account – 403(b)  Opened automatically  Base support from P&B Fund income  Participation Agreement needed Pensions and Benefits USA Church of the Nazarene

Retirement Contributions Require Participation Agreement  IRS Regulations changed – required of every “employer” in a plan as of 2009  No contributions may be made if the Participation Agreement is not signed by the employer!  No retroactive contributions allowed! Pensions and Benefits USA Church of the Nazarene

2018 P&B Funding Annual Pension Supplement and Insurance Annual Church P&B Life/Disability Base APS Bonus APS 403(b) Match Fund Contribution Insurance $0 of $0 $0 $0 $0 P&B Fund Goal $1 to 49% of $15,000/$400 $0 $0 $0 P&B Fund Goal 50% to 99% of $15,000/$400 $200 $0 $0 P&B Fund Goal 100% of 10% of P&B $15,000/ $400 $200 $0 P&B Fund Goal Fund Paid 50% Match 100% of P&B Fund & 10% of P&B of 403(b) $15,000/$400 $200 Education Fund Goal Fund Paid Contributions (up to $250) Pensions and Benefits USA Church of the Nazarene

Personal Participation Is Critical  You may need more life and disability protection.  You will need to make additional contributions to your 403(b) account.  You will need to manage the assets in your 403(b) account.  You WON’T need to do it alone! Pensions and Benefits USA Church of the Nazarene

Never Too Late or Too Little $9.00 $8.14 $8.00 Real growth of $1 by age 65 based on average historical returns of a hypothetical portfolio of $7.00 $6.27 70% stock, 25% bonds, and 5% short ‐ term debt. $6.00 $4.91 $5.00 $3.87 $4.00 $3.03 $3.00 $2.32 $1.79 $2.00 $1.33 $1.00 $ ‐ Age at contribution 25 30 35 40 45 50 55 60 Pensions and Benefits USA Church of the Nazarene

Study Results – Nazarene Senior Pastor Analytics • A study of Church of the Nazarene senior pastors and their expected retirement readiness age • 74% of pastors are at-risk of needing to retire past the age of 72 Pensions and Benefits USA Church of the Nazarene

Study Results – Nazarene Senior Pastor Analytics Pensions and Benefits USA Church of the Nazarene

Pocket Pain Relief Pensions and Benefits USA Church of the Nazarene

Additional Limited Time Offer compassinitiative.org Pensions and Benefits USA Church of the Nazarene

What Are The Barriers To Working the Plan? 1. Open an account 1. Done by P&B 2. Make initial contribution 2. Done by P&B 3. Meet minimum 3. Waived by P&B contribution requirement 4. Default to Freedom Fund 4. Select an investment 5. If you don’t, it is 5. Select a beneficiary spouse/estate 6. Make personal 6. This you have to do contributions on your own! Pensions and Benefits USA Church of the Nazarene

Can Somebody Help Us? • Your Pensions and Benefits USA Office:  888-888-4656 (translation resources available)  pbusa.org  pensions@nazarene.org • Your Fidelity Connection:  netbenefits.com (set up your PIN)  866-NAZARENE  Retail locations Pensions and Benefits USA Church of the Nazarene

You Are Not Alone! Pensions and Benefits USA exists as an expression of care and concern by the Church of the Nazarene for those serving in local congregations and districts. “My Presence will go with you, and I will give you rest” (Exodus 33:14) . 888-888-4656 pensions@nazarene.org Pensions and Benefits USA Church of the Nazarene