Each fall, Rejuvenate hosts a Pre-Retirement Seminar for clergy and spouses. The seminar is designed to help participants learn about the benefits offered through the General Board of Pensions and Health Benefits. Lynette Rice, GBOPHB staff, provides helpful information for clergy and spouses as they plan for their retirement, including a projection of financial benefits at retirement.
The projection is especially helpful for those who have five-to-ten years until retirement. For these clergy, there is time to increase their personal contributions and realize an increased benefit upon retirement. You can access this information online at www.gbophb.org.
As a member of the pension program (lay or clergy), participants have access to representatives from Ernst and Young for personal financial counsel. Again, participants can access information about this service on the website, www.gbophb.com. This service is free to those in the program.
It was nice to hear participants say they are looking forward to retirement and to a slower pace of life. I also am grateful to know that our pension plan will provide needed financial resources for our clergy and spouses.
If clergy members of our annual conference have not participated in the United Methodist Personal Investment Plan, I encourage them to please consider participating. For the next two years, Rejuvenate is offering a match for pastors who have not participated. The process is simple. It is done when they complete the form for their Charge Conference that identifies personal contribution to UMPIP. If pastors have questions, I encourage them to contact their district superintendent or send me an email inquiry.
Wild, precious life
In her poem “The Summer Day,” Mary Oliver ends with these words. “…and what will you do with your one wild and precious life?”
I think of these words often these days. As I get closer and closer to retirement, I find myself reflecting on how I have honored my wild and precious life and how I will continue to do so in retirement. As an elder in The United Methodist Church, I also am thinking about how I will honor my ordination as I move into retired status.
So I ask my clergy colleagues, “How will you use your ‘free time’ to honor the imperative ‘to preach the Word of God, to administer the Holy Sacraments, and to order the life of the Church’ when you are not actively serving a congregation, leading a district, serving as a chaplain, doing therapy or in other settings where elders and deacons give their lives to ministry?
I remember when retirement seemed like a distant dream; almost like it was yesterday. But children have grown up, my hair has turned gray and I will soon be sixty-three. I am grateful for the wise counsel of colleagues in the early years of ministry who advised me to save for retirement. As one of my friends said, “Compound interest is a wonderful thing!” If you are in your early years of ministry, plan for your retirement now. Put aside a portion of your income each month towards your retirement. You will be glad you did in forty years!
For more information, contact Mary Ann Moman at email@example.com.
Mary Ann Moman is executive director of the Indiana Conference Rejuvenate Ministry, which is related to the United Methodist Foundation of Indiana based in Fishers.
Our pension plan will provide needed financial resources for our clergy and spouses.