Board of Pensions Pastor's Participation increase in 2023

From the Summer 2022 Board of Pensions Board Bulletin:

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.

The vote to increase dues followed a review of cost forecasts by Milliman Inc., the agency’s medical actuarial counsel. Healthcare costs spiked in 2021 as medical costs continued to climb and healthcare use increased following the coronavirus crisis.

In summarizing actions taken at General Assembly, the Reverend Dr. Frank Clark Spencer, agency President, discussed specific requests directed to the Board concerning parity of medical dues and affordability for small congregations, particularly within communities of color. He affirmed the need for ongoing evaluation and assessment of existing benefits structures that may not best serve an evolving denomination. And he reiterated the Board of Pensions’ commitment to providing affordability and flexibility in its benefits and to eliminating plan designs that perpetuate disparities and inequities.