– From the Board of Pensions

2016 and 2017 Tax Resources Are Here!

The Tax Guide for Ministers for 2016 Returns and Federal Reporting Requirements for Churches: What You Need To Know for 2017 are now available through Benefits Connect (search in Resources & Support). The Tax Guide will also be mailed to active and retired teaching elders this month.

Included with the Tax Guide is the housing allowance letter, which is available on pensions.org.

The web module Tax Tips for Members and Churches – Tax Year 2016 is now available at Board University. This annual resource helps active and retired teaching elders, treasurers, and church administrators understand recent tax law changes that affect income tax reporting and filing. The module contains links to other helpful resources, including the Clergy Housing Allowance web module.

What You Need to Know in 2015

You can now access Federal Reporting Requirements for Churches, What You Need to Know in 2015 on pensions.org, through Benefits Connect.

Benefits Connect is the Board’s secure benefits website that provides

• church treasurers and business administrators access to important information for their organization’s benefits administration responsibilities;
• eligible members access to their personal and benefits information and online tools; and
• access to the Tax Guide for Ministers.

Using Benefits Connect Is Easy

If you are not already using Benefits Connect, registering is easy. Go to pensions.org and click Register beside Benefits Connect. You will need your PIN and email address. Follow the easy instructions to create your password and user profile.

If you have questions, call the Board of Pensions at 800-773-7752 (800-PRESPLAN) and speak with a member service representative.

For 2015, Traditional Program medical dues are:

• 24.5 percent for Member + Family coverage (covering eligible family members, including covered partners and/or children); and
• 23 percent for Member-only coverage. (Member-only coverage is for members who are single or whose eligible family members have access to other coverage, such as employer-sponsored coverage.) Employing organizations may ask members to pay none, some, or all of the 1.5 percent allowable dues-share amount.

Learn about changes to Traditional Program medical dues for 2015

Annual Enrollment

Time to Check on Dental and Supplemental Death Benefits, the Retirement Savings Plan, and Long-Term Care Insurance

Annual enrollment, now through November 15, is your chance to apply for or make changes to dental and supplemental death coverage. If you did not enroll in these plans when you first joined the Benefits Plan, annual enrollment is the only time you can enroll in or make changes to your dental and supplemental death coverage unless you have certain qualified life-change events.

It’s also a great time to choose to start saving – or save more – in the Retirement Savings Plan and to consider applying for Long-Term Care Insurance.

Visit pensions.org/annualenrollment for additional details and applications.

New Tax Guide for Ministers and Federal Reporting Requirements for Churches Available

February 6, 2013

The Board’s annual publications that assist teaching elders and churches with tax-related issues have been updated and are now available.

• The Tax Guide for Ministers has been updated for the 2012 tax year.
• The Federal Reporting Requirements for Churches booklet is designed for church treasurers and business administrators.

To help teaching elders and churches understand what’s new for the 2012 tax year, the Board has also released new and updated resources in the Tax Resource Centers for members, treasurers and administrators, and mid councils on pensions.org.

More…