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The Plan is under the jurisdiction of the Board of Pensions and Insurance elected by the Annual Conference of the Pacific Conference. The Plan is administered by an Administrative Committee appointed by the Board. The Committee is responsible for the interpretation, administration, and selection of the Investment Managers.
Participants are all full-time Ministers whose credentials are held by the Conference and serving a church under assignment. A full-time minister is one regularly employed in a position normally requiring more than 20 hours per week. Participation is not optional.
Contributions are to be made at least quarterly by each church for each minister assigned by the Conference. The contribution is to be seven and one-half percent (7.5%) of the compensation paid to the minister consisting of: cash salary, housing/utilities, social security, family health insurance, and professional expenses (auto, entertainment, continuing education). Housing includes the purchase of their own home, rental allowance or a parsonage furnished by the church. Forms are provided to make the calculation easy for the church treasurer.
All funds were
transferred to the Wesleyan Pension Fund. You will receive notification
from them once the transfer has completed. The merger of the Pension
Funds is in no way related to any merger between the denominations.