Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1917-03-08
EPISCOpAl|ANs TO BENEFIT
Bishop Hall Issues Statement on
Clergymen's Pension Fund.
Total of S1,JOO.OOO over sum Aimed nt
win EnlarEc Pcnsions-St. Paui's
Church Raised Nearly $1,000.
srO.OGO.OOO In Diocese.

The announced raising of $l.5UVU in
excess of the 100000 aimed at by the
Protestant Episcopal Church IN America
to aid in providing pensions for its clergy
will enable the church to increase the
minimum of $500 a year which was set
and to give help to the widows ana minor
children of deceased ministers. The sue
cess of the campaign was hailed with
delight by members of st. Paul's Church
II Is true that the s5.OCo,0cO was the
minimum fixed. but the final result
reached considerably beyond ;he en-
pectations Of committee and churchmen
alike. Bishop william Lawrence or
Massa chusetts was the committees chair
man. The aggregate is more than %J"'-
o.
Some re,i,,c ion will have 20 10 made
from the totai. because OF the loss OF
interest due to the fact that certain
proportion Of the gifts was in pledges.
nut most OF the s6500,000 is iii cash o.
good securitie~.
The amount raised by st. Paurs Church
was nearly q -2g0. and the sum in the en-
Nrc diocese is expected to reach 10000.
The campaign for s5,C0000O was begun
in the first place to cover what was
known as the accrued liabilities due
to the foot that a large proportion OF
nEcd cergyrncn in the nature of things
had not contributed the assessment of
n, per cent of their salaries yearly to
lcok after their own pensions
Bishop f!a! received word from New
York Thursday that six and half mil
lion dollars had been received or pledged
for the reserve fund of the church pen
sion scheme Of the Episcopal Churcn.
rive Dill;on dollars were to be raised
by March I, in order that the scheme
might he put into operation. This reserve
fund provides for the accrued liabilities
during the past years of service or the
prcseat body of clergymen, for which no
premiums have been paid For the future
the plan, which is Of the nature Of a COM
pulsory insurance. paid as an addition
to the stipend, will take care of itself.
Any excess over the five millions asked
for the reserve will enable the fund to
raise the annuities above the minimum
of 800. for past service.
Arrangc.pents for the payment of the
annual assessments will be made with
tho several parishes by n diocesan conn
mittee consisting of the bishop. the treas
urer (Spencer ". Aindes of Burlington),
aud the secretary Of the convention. thc
Row. W. C. Bernard of Newport. This
COMMITTEES WAS appointed AZ the diocesan
convention last June 70 serve as a channel
Of communication between the central Of
Ace and the loca! parishes and trustees
In the ANNOUNCEMENT the name Of only
one contributor was mentioned. that OF
the Carnegie corporation, which ap-
nsapriaked $34746 to make up the interest
on deferred payments pro7iding that the
$780, 900 was subscribed
Bishop Lawrence said the genera
clergy relief fund was now consolidated
with the pension fund. and added thai
the benefits Of the total fund would bt
applied at once. The maximum pension
to which any clersymen will be entitled
will be arrived at by taking his average
salary for the total period Of active
service and applying to it an annual per
centage equal to one and a quarter time!
the number Of years assessments hav'
been paid on his behalf by the parishe
he has served since March I. 1917. Widow
will receive one-half the sum to which
their husbands would have been entitled
the only difference being that the per
centage will relate to the number of year
of marriage rather than to the numbe
of years of ministerial service
''In the event of disability, n clergy
man will be entitled to n minimum o
$500 year and a maximum representet
by 40 per cent. Of his average salary 70
the five years preceding disability. Al
allowance will be made to all dependen
orphans of deceased clergymen at the rat
of 500 for each child under seven year
and $o00 a year for each child betwee
seven and IA