Difference between revisions of "Ministerial Retirement Benefit Plan (United Missionary Church)"
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| − | The Ministerial Retirement Benefit Plan of the [[United Missionary Church|United Missionary Church was]]begun in 1940. In the earlier history of the church ministers were only partially supported and were expected to provide a portion of their own living. The Retirement Plan came as a consequence of a supported ministry, giving full time to ministerial work. It was inaugurated as a result of an agreement that pastors would pay a small percentage of their salaries into the fund, and that the church which they served would also pay into the fund a certain amount annually. Each congregation was expected to pay into the Retirement Fund 50¢ per member annually, and the pastor was expected to pay one per cent of his salary up to $1200 per annum, and 2 per cent of the portion over that amount. The maximum benefit paid to any retired minister was $35 per month and to widows of deceased ministers a maximum of $100 per year. In 1948 a Death Benefit Insurance was incorporated into the Retirement Fund, with a maximum death benefit of $1000. | + | The Ministerial Retirement Benefit Plan of the [[United Missionary Church|United Missionary Church was ]]begun in 1940. In the earlier history of the church ministers were only partially supported and were expected to provide a portion of their own living. The Retirement Plan came as a consequence of a supported ministry, giving full time to ministerial work. It was inaugurated as a result of an agreement that pastors would pay a small percentage of their salaries into the fund, and that the church which they served would also pay into the fund a certain amount annually. Each congregation was expected to pay into the Retirement Fund 50¢ per member annually, and the pastor was expected to pay one per cent of his salary up to $1200 per annum, and 2 per cent of the portion over that amount. The maximum benefit paid to any retired minister was $35 per month and to widows of deceased ministers a maximum of $100 per year. In 1948 a Death Benefit Insurance was incorporated into the Retirement Fund, with a maximum death benefit of $1000. |
{{GAMEO_footer|hp=Vol. 3, p. 696|date=1957|a1_last=Huffman|a1_first=J. A|a2_last= |a2_first= }} | {{GAMEO_footer|hp=Vol. 3, p. 696|date=1957|a1_last=Huffman|a1_first=J. A|a2_last= |a2_first= }} | ||
Latest revision as of 14:11, 23 August 2013
The Ministerial Retirement Benefit Plan of the United Missionary Church was begun in 1940. In the earlier history of the church ministers were only partially supported and were expected to provide a portion of their own living. The Retirement Plan came as a consequence of a supported ministry, giving full time to ministerial work. It was inaugurated as a result of an agreement that pastors would pay a small percentage of their salaries into the fund, and that the church which they served would also pay into the fund a certain amount annually. Each congregation was expected to pay into the Retirement Fund 50¢ per member annually, and the pastor was expected to pay one per cent of his salary up to $1200 per annum, and 2 per cent of the portion over that amount. The maximum benefit paid to any retired minister was $35 per month and to widows of deceased ministers a maximum of $100 per year. In 1948 a Death Benefit Insurance was incorporated into the Retirement Fund, with a maximum death benefit of $1000.
| Author(s) | J. A Huffman |
|---|---|
| Date Published | 1957 |
Cite This Article
MLA style
Huffman, J. A. "Ministerial Retirement Benefit Plan (United Missionary Church)." Global Anabaptist Mennonite Encyclopedia Online. 1957. Web. 16 Apr 2024. https://gameo.org/index.php?title=Ministerial_Retirement_Benefit_Plan_(United_Missionary_Church)&oldid=92862.
APA style
Huffman, J. A. (1957). Ministerial Retirement Benefit Plan (United Missionary Church). Global Anabaptist Mennonite Encyclopedia Online. Retrieved 16 April 2024, from https://gameo.org/index.php?title=Ministerial_Retirement_Benefit_Plan_(United_Missionary_Church)&oldid=92862.
Adapted by permission of Herald Press, Harrisonburg, Virginia, from Mennonite Encyclopedia, Vol. 3, p. 696. All rights reserved.
©1996-2024 by the Global Anabaptist Mennonite Encyclopedia Online. All rights reserved.