How to Calculate Dues for a Board of Pensions
Many large religious organizations have established a centralized Board of Pensions that oversees the benefits provided to employees and clergy members, such as health, life and disability and retirement benefits. Board of Pensions dues represent the cost of the benefits provided for an individual, such as a clergy member, whose dues are paid by the church. Since every Board of Pensions has a different dues structure, to calculate dues for a Board of Pensions you should complete the information on the dues calculator on the Board of Pensions website.
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Instructions
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Navigate to the dues calculator on the Board of Pensions website. For example, navigate to "http://www.pensions.org/portal/server.pt?open=514&objID=449&mode=2#" to go to the dues calculator for the Board of Pensions of the Presbyterian Church U.S.A.
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Select the dues year, for example "2011."
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Choose the participation type based on whether the position is full-time or part-time, receiving all benefits or all benefits except pension, vacant or occupied by a retired member of the clergy, for example "Traditional - Full."
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Enter the number of hours worked per week, for example "40."
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Check the box if the position is a called and installed clergy position.
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Calculate the total annual effective salary based on the cash salary and other allowances provided. Sum the amounts for cash salary, employee contributions to 403(b)(9) plans, housing, utility and furnishing allowances, bonuses and gifts, down-payment grants and savings from interest-free loans, reimbursement for Self-Employment Contribution Act (SECA) taxes and any other forms of compensation provided to the member.
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Click the "Calculate" button and review the monthly and annual dues in total and for each major benefit area: health (medical), retirement (pension) and life and disability (death and disability).
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References
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