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Hoosier United Methodist News Archives
| Hoosier United Methodists together |
November/December 2005 |
Retired Ministers Offering and Fund help retired ministers in South Indiana
By Robin Andres
Due to demographics, the rising costs of health care and increased usage, especially of prescription drugs, our retired clergy families will be faced with significant increases in the cost of their premiums for health insurance through the South Indiana Conference.
Some of our retirees will see their premiums increase by 100 percent in 2006. As with many retirees in our communities, affording this increase will be a challenge for a number of our retired clergy families. One retiree calculated that she will need to spend nearly 60 percent of her pension to remain in the insurance program.
There are two ways that these increases and subsequent problems are being addressed in South Indiana.
The Retired Ministers Special Offering will provide immediate assistance for retired clergy who will face hardships due to the increased premiums. This fund will be administered by the South Indiana Conference and will be distributed directly to those needing assistance. Details on how to apply for assistance will be announced by the Conference.
The Ministers' Retirement Fund aims to lower the premiums for all of our retired clergy families. Once the unfunded obligation for our pre-1982 participants in the pension fund is complete, the proceeds from the Ministers' Retirement Fund will be used to help cover the insurance bill for all of our retirees. With the assistance of the Ministers' Retirement Fund, the portion of the cost that falls on our retired clergy families and on our churches will be significantly reduced.
The Ministers' Retirement Fund is an endowed fund at the South Indiana Foundation. Donations to the Fund are primarily made through bequests, annuities and other estate gifts.
For more information, call 317-788-7879 or toll-free 877-391-8811 or log on to www.sifumci.org.
Robin Andres serves as director of ministry funding for the South Indiana Foundation of The United Methodist Church.
Last updated on 25 Apr 2008