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07418 July 12, 2007
BOP launches two new grant programs
Assistance offered to entering college students, small church pastors' sabbaticals
by Holly Baker Board of Pensions staff writer and Jerry Van Marter Presbyterian News Service
PHILADELPHIA - The Board of Pensions (BOP)
[http://www.pensions.org/] of the Presbyterian Church (U.S.A.) has approved two new pilot assistance programs to help first-year college students get started and to help small church pastors afford sabbaticals.
Approved at the BOP's June 23 meeting here, the "Transition-to-College Assistance Grants" are designed to help the dependents of eligible church workers who are entering their freshman year of college with one-time "start-up" expenses such as the cost of a computer, dorm room furnishings and the like.
"The cost of a college education has escalated rapidly in recent years, creating an ever-greater burden on parents," the board said in a statement. "The first year of college, especially, involves exceptional, one-time expenses..."
Amounts ranging from $250 to $750 will be given to BOP plan members who have been in the plan for a minimum of five years, have a total family income of $95,800 or less and who have a dependent child enrolled as a full-time freshman in an accredited college or university. The Tranistion-to-College Assistance Grants program will begin with students entering their freshman in the fall of 2007.
The board's other new assistance program - Sabbath Sabbatical Support Grants - will provide stipends of up to $3,000 towards sabbaticals for eligible pastors serving churches of less than 200 members.
The program begins Jan. 1, 2008 and will provide up to 110 grants that will be administered in cooperation with middle governing bodies. The grants are "intended to supplement the financial aid of congregations, foundations, middle governing bodies or other contributors," the BOP said.
Practical skills and spiritual health
The board is accepting applications for Middle Governing Body Grants for 2008 until Aug. 15, 2007. Fifteen matching grants will be available for up to $20,000 to synods or groups of presbyteries that want to develop new programs to improve the practical skills of their pastors.
After last year's successful pilot conferences, managed in cooperation with Episcopal CREDO (Clergy, Reflection, Education, Discernment, Opportunity), the board is off to a strong start implementing its own conferences this year. Held in Florida and North Carolina in the spring, the first two of four Presbyterian CREDO conferences slated for 2007 were completed to positive reviews, the board was told.
An expanded schedule of six conferences is slated for 2008.
Presbyterian CREDO, [http://www.presbyteriancredo.org/] an eight-day conference, helps ministers between the ages of 40 and 55 with at least seven years of service to the church examine vocational, financial, health, and spiritual aspects of their ministries and discover how these seemingly disparate parts of their lives intersect. The curriculum directly addresses issues of clergy burnout and stress, and offers means of coping with certain professional challenges.
Invitations for the 2008 conferences will be sent this summer to pastors who are randomly selected from the Benefits Plan member database.
At its meeting, the board also:
* Heard that the BOP's Balanced Investment Portfolio returned 7.8 percent for the five months ending May 31, 2007. The return, which exceeded all of the board's benchmarks, means the value of the board's portfolio stood at $7.9 billion.
* Heard that its Healthcare Committee approved implementation of a new Preferred Home Delivery plan by Express Scripts for maintenance medications, effective Jan. 1, 2008. Typically, maintenance medications treat ongoing conditions like diabetes, high cholesterol, or high blood pressure. The new home delivery program will make such prescriptions much less costly than purchasing them at a local pharmacy. Under the new program, members may fill a 30-day prescription for a maintenance medication at a local pharmacy up to two times before a surcharge will apply. On the third fill of a maintenance medication, members will incur an additional cost of $5 for generic drugs, $10 for brand formulary prescriptions, and $15 for brand non-formulary prescriptions. When ordering through the Preferred Home Delivery program, members will receive a 90-day supply of their approved maintenance medicine by mail at a lower cost than available at retail, with free standard shipping. Once Express Scripts receives the original prescription, refills for the remainder of the 12-month period may be ordered online, by phone, or through the mail. No additional fees will apply.
* Converted the Medical Plan for plan members in Alabama from an HMO to a standard PPO benefits design, effective Jan. 1, 2008.
* Increased 2008 subscription dues for the Affiliated Benefits Program by 9.2 percent. The increase does not apply to retired non-Medicare eligible and Medicare Supplement subscribers, whose dues are decided at the BOP's October meeting each year. Under the Affiliated Benefits Program, churches and other employing organizations may offer medical coverage only - or medical with death and disability coverage - to employees in non-installed positions scheduled to work 20 hours a week or more.
* Heard that a step-by-step enrollment guide for the Retirement Savings Plan has been designed for church treasurers and business administrators. Presented as a laminated card, the guide explains, in clear and simple terms, the procedures for churches and employing organizations to join the Plan and to enroll, maintain, and remove participants. A 403(b)(9) plan, the Retirement Savings Plan complements the Pension Plan and Social Security to provide funds for Presbyterian clergy and other church workers at retirement.
* Heard that more than 500 middle governing body leaders attended the 2007 Regional Benefits Consultations, offered by the Board of Pensions in three locations across the country this past spring. Each year, the consultations offer BOP staff the opportunity to present information about benefits and assistance programs, including recent changes approved or under consideration, as well as to hear participants' concerns. Next year's Regional Benefits Consultations are scheduled for April 23-24 in Atlanta; April 30-May 1 in San Francisco and May 7-8 in Arlington, TX.
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