CPF Pension Plan Basics

Course

Understanding The Church Pension Fund
Clergy Pension Plan — U.S. Dioceses


About This Course

Even if you’re years from retirement, your decisions today can impact your benefits in the future. Getting to know the Clergy Pension Plan can help you make the most of your pension benefit, other retirement benefits, and the benefits available to eligible Active clergy during their career.

Duration

Approximately 20 minutes

Sign In

You will be prompted to sign in to your CPG Web Account and then automatically forwarded to the course.


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Additional Details

Clergy Pension Plan

The Church Pension Fund Clergy Pension Plan for the Episcopal Church (Clergy Pension Plan) is a defined benefit plan.

Eligibility

The Clergy Pension Plan covers all ordained bishops, priests, and deacons:

  • Who work for an Episcopal employer for at least three consecutive months and earn at least $200 a month (and are younger than age 67 at ordination),
  • Who are canonically resident in a domestic diocese of the Episcopal Church, and
  • Whose assessments are paid or, under special circumstances, waived

Benefits

As a participant in the Clergy Pension Plan, you may be eligible for various benefits before and after retirement. These include (but are not limited to):

  • Short term disability coverage (for active clergy)
  • Group life insurance benefit
  • Survivor’s benefits
  • Access to The Episcopal Church Retirement Savings Plan (RSVP)
  • Retirement options providing flexibility for when you can retire
  • Medicare Supplement Health Plans

Your monthly retirement benefit is earned and secured for payment when you are vested under the Clergy Pension Plan, which occurs after you have earned five (5) years of Credited Service (CS). The amount of your monthly benefit is determined based on your years of CS and Highest Average Compensation (HAC).

  • The amount of your monthly benefit is not tied to the investment performance of The Church Pension Fund.

For details about the full range of benefits available, see:

For more detailed information about the plan, see A Guide to Benefits Under the Clergy Pension Plan. You can also contact CPG for an individual personal discussion, and we can help answer any questions you may have.

Tips & Resources - CPF Pension Plan Basics

  • To save additional dollars for retirement, consider taking advantage of The Episcopal Church Retirement Savings Plan (RSVP). This is a is tax-deferred retirement savings plan that gives clergy in our defined benefit pension plan the option of contributing their own money toward their retirement savings. Learn more

Pensions Disclaimer

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