retirement funds

[Dedicated Mind]

does the upci have a retirement or pension fund that ministers pay into or is that left up to the local church?

[canam]

Local i believe ,my dad was upc and i dont remember anything,there is a small death benefit and some medical i think.

[Hoovie]

My understanding is that there is such a fund, but it requires you to opt in. In other words it is not simply a benefit.

[coadie]

Originally Posted by Hoovie

My understanding is that there is such a fund, but it requires you to opt in. In other words it is not simply a benefit.

Free mansion, all expenses paid.

[ILG]

Originally Posted by canam

Local i believe ,my dad was upc and i dont remember anything,there is a small death benefit and some medical i think.

From my remembery, I remember the small death benefit. If there was or is a retirement fund you can opt into, I don't remember it.

I do remember a couple of minister's wives who, when their husband died, lost not only him, but the position of first lady and all their income too. Nothing like losing everything all at once.

[Hoovie]

Originally Posted by ILG

From my remembery, I remember the small death benefit. If there was or is a retirement fund you can opt into, I don't remember it.

I do remember a couple of minister's wives who, when their husband died, lost not only him, but the position of first lady and all their income too. Nothing like losing everything all at once.

In all fairness that is no different than real life for all the small business owners/self employed.

It is everyone's own responsibility to get life insurance and a retirement account - especially the self employed. If they don't they should not expect that it will magically appear when the time to use it comes.

[Dedicated Mind]

Originally Posted by ILG

From my remembery, I remember the small death benefit. If there was or is a retirement fund you can opt into, I don't remember it.

I do remember a couple of minister's wives who, when their husband died, lost not only him, but the position of first lady and all their income too. Nothing like losing everything all at once.

this was partly the reason I was asking. In puerto rico there are at least 5 to 7 female pastors and at least one became pastor after her husband's death. I was wondering if there were any retirement or death benefits for ministers. wouldn't widows be eligible for ssi?

[Adam]

Originally Posted by coadie

Free mansion, all expenses paid.

But, regrettably, no more USA Today sitting at the front door. Man, imagine the subscription rates......yikes!

[Michael The Disciple]

Originally Posted by Hoovie

In all fairness that is no different than real life for all the small business owners/self employed.

It is everyone's own responsibility to get life insurance and a retirement account - especially the self employed. If they don't they should not expect that it will magically appear when the time to use it comes.

This is true and also consider that God never promised Preachers a retirement plan in his word. Sure one can pray and perhaps God will give them a retirement plan of some kind but one should not assume that its something that normally goes along with being a Preacher.

[coadie]

Originally Posted by Michael The Disciple

This is true and also consider that God never promised Preachers a retirement plan in his word. Sure one can pray and perhaps God will give them a retirement plan of some kind but one should not assume that its something that normally goes along with being a Preacher.

Before that, a preacher has the opportunity to opt out of social security and medicare. If he does, that means the employer also doesn't contribute.
If the missionary is outside the US. he doesn't do payroll tax deductions.