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2017 Annual Report image

Nazarenes in the United States contributed almost $14 million to the Pensions and Benefits Fund in 2016, according to the annual report released by Pensions and Benefits USA. This was about $134,000 less than received the year before.

During 2016, about $45 million were distributed in the various plans administered by the office. These included:

  • $15 million in assistance to retired ministers and widowed spouses served by the Basic Pension Plan;
  • $9.5 million deposited to the Basic Pension Trust;
  • $2 million contributed to the 403(b) Retirement Savings Plan accounts of active ministers;
  • $1 million to provide almost 7,000 Nazarene ministers and district-credentialed laypersons with basic life and disability insurance;
  • $500,000 paid to life and disability beneficiaries; and
  • $125,000 in emergency medical assistance and benevolence to assist 112 families

“We are grateful for the support our districts and congregations continue to provide for the P&B Fund, but we remain concerned about the financial situations of our ministers—young and old,” said Don Walter, director of Pensions and Benefits USA. “Young men and women who seek to serve congregations must repay student loans and provide for their families, which often requires them to be bivocational. At the other end of the spectrum, older ministers are delaying retirement because of a lack of financial readiness. Both situations represent realities we must address if we are to remain a viable part of God’s Church in today’s world.”

The P&B USA Annual Report is available in both video and print format here or text only version.

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