Booklet Provides Details for Lay-employee Pensions
Episcopal News Service. February 7, 1992 [92039B]
The Church Pension Fund (CPF) has produced a 33-page booklet describing the two retirement plans available to full-time lay employees of the Episcopal Church. The brochure comes on the heels of action by the 70th General Convention calling for all employees who work 1,000 hours or more to be enrolled in a pension plan by January 1, 1993. The publication outlines the retirement-security obligations of Episcopal employers, the defined-contribution and defined-benefit pension plans offered by the CPF, and the decisions that employees must make prior to the January 1, 1993 deadline. An estimated 3,750 parishes and 200 diocesan offices and church-controlled agencies will be required to offer pensions to 12,000 full-time lay employees. The booklet is available from Thomas Martinson, Executive Vice President, The Church Pension Fund, 800 Second Avenue, New York, NY 10017; telephone (800) 223-6602.