Local church leaders should prepare to select what benefits will be offered to employees during 2023 as the Board of Pensions opens the Employer Agreement update period.
Employers have from August 8 through October 7, 2022 to review and select what benefits will be offered to employees in 2023.
Learn more here about the Employer Agreement, how to establish it, and how to update it. Technical assistance or specific questions about benefits is available at (800) 773-7752.
Not sure what benefits are available or have questions about the best benefits strategy to use in supporting the well-being of ministers, employees and their families? Reach out to the Rev. Luke Choi, the Board of Pensions church consultant assigned to work with groups in the Presbytery of Lake Michigan. Luke may be reached at (215) 587-7643 and email@example.com.
Some information regarding 2023 benefits and related costs came from decisions at the July 23, 2022 Board of Pensions directors meeting.
Pastor’s Participation medical dues increasing for 2023
Directors approved an increase in Pastor’s Participation dues for the first time in five years. Effective January 1, 2023, medical dues will increase 2 percent from 27 percent to 29 percent. As a result, total dues for the benefits package will be 39 percent, up from 37 percent. Directors raised the cap on the maximum annual dues amount by $1,500 from $33,500 to $35,000 and on the minimum annual dues amount by $500, from $11,000 to $11,500. Click here for more information.
2023 Medicare Supplement increase expected; not to exceed $65 per month
Directors authorized staff to establish the 2023 rate for the Medicare Supplement Plan, with an increase not to exceed $65 per participant per month. The rate has remained unchanged for five years. Staff will report the 2023 rate when the directors meet in October. The rate will be effective January 1, 2023.