Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-02-19
METHOD|STSPAY
MANY PENSIONS
$3,390,000 Given Annually
to 1924 Ministers, 4,031
Widows, 1913 Orphans.

CHICAGO, Ill, February 19.-The
Methodist Episcopal Church in 1926
paid $1,000 900 as PENSIONS according
to the report of DR.. Joseph Il. Hinge
ley, Chicago, corresponding secretary
of the board of pensions and relief of
the Methodist Episcopal Church, at
the annual meeting of the board
here.
Pensions We're paid to 1884
| preachers, 4,031 widows of preach :
ers and 898 orphan children of min
listers. a total of S,213. Charles
Waterman, BOLTON. ILL.,, vice presi-
dent. presided. Robert Campbell,
Chicago, presented the treasurers'
report. Rev. Thomas STAFFORD report
ed as actuary and statistician and
Rev. Charles X. Oaten. business man
ager, made his report.
Pension Plan Submitted.
DR.. Hingeley reported the funda-
mentalS of the pension plan, which
will be submitted for action to the
next general conference. He eX-
planned that the plan is substantially
that adopted and in use by the
Episcopal Church pension fund. the
Presbyterian and all the newer pen
States, which pensions ministers,
their widows and dependent orphans
on a reserve fund and not on an en-
downment fund. The ministers con-
tribute 21a per cent of their salary.
each church served by the minister
contributes to 10 per cent OF the
pastors salary, and contributions OF
churches are allocated to ministers
pension accounts. These total accumu-
lations, plus compound interest, pro-
! vide a sure old-age pension at 65
wears of age, and will maintain an
exact balance between pension re-
sources and pension obligations. The
pension system will be operated as
a fund in reserve. The ministers
reserve pension fund is correctional
or UNCONVENTIONAL, and not localized
in an annual conference. The fund
will be administered by the connec-
tional board of pensions and relief,
| created and controlled by the gener"
! conference, under actuarial superVl-
| sion and control.
Death, disability, widows and
| orphans benefits are provided from
| the contributions made by the lay
| men through the pastoral charges.
| Ministers Live Longer.
| The increased length of life of
| ministers makes the psnion problem
more difficult every year.
| 1.-The pension age" says DIR. Hinge
| ley, "is 81, and the average pension
| period is IL years. The extension of
| life by one year would increase the
! pension period one year more, or one
| twelfth the total amount of the pen
| sion period. This neceSsitateS a
| funded reserve and greatly increases
| the pension period of the minister
| Because of increase of life and be-
cause preachers particularly are liv-
| ing longer, it takes more reserve
money for pensions"
DR.. Hingeley also reported that the
| Methodist Episcopal Church had for
| the first time a plan for pensioning
| it's 5000 supply pastors, who are in
| charge of churches and do actual
| pastoral work, but who are not OFF,
cial members Of the annual confer
ences. The plan is called the EN-
| bury Strawbridge Annuity Fund for
| Supply Pastors. The same prin-
| ciples that are used in pensioning the
regular preachers will be employed
| to give the supply pastors their pen
sions. This fund alone will need a
reserve of $2,000,000, contributed by
supply pastors and from the church
! that Is served by the supply pastor
| In consequence of the supply pastors
receiving less salary and therefore
| being unable to save money for their
old age. this fund is very necessary.