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Pension Benefits

The Clergy Pension Plan (Clergy Plan) is available to ordained bishops, priests, and deacons who are canonically resident in a domestic diocese, with certain qualifications. The following benefits are offered to eligible participants:

Before You Retire

Access to the Retirement Savings Plan (RSVP)

You have the opportunity to contribute to your retirement by participating in The Episcopal Church Retirement Savings Plan (RSVP), a tax-deferred retirement savings plan. Church Life also offers IRAs and annuities to help you provide for your financial security in retirement. See more about:

Disability Coverage

You may be eligible for short-term disability insurance benefits or a Disability Retirement Pension Benefit if you become disabled and are unable to work before retiring or reaching age 65. See more.

Survivor's Benefits

If you die before you retire, your surviving spouse, dependent children, and named beneficiaries may be eligible for survivor’s benefits. These include:

  • Survivor‘s Monthly Benefit – Your surviving spouse or named beneficiaries may be eligible to receive a monthly benefit.
  • Surviving Dependent Children Benefit – Your surviving dependent children may receive a benefit. Additional benefits may be available to your children if they are disabled.
  • Lump Sum Death Benefit – Your surviving spouse, beneficiary or estate will receive a lump sum payment of $5,000 if you are in active service or have at least 25 years of Credited Service (CS) when you die.
  • Resettlement Benefit – Your surviving spouses or beneficiaries may be eligible to receive a resettlement benefit.

See more.

Life Insurance

Active clergy receive a life insurance benefit of four times your current total compensation, up to a maximum of $100,000. Benefits may be available to inactive clergy if they meet certain qualifications. In addition, life insurance benefits may be available after retirement. See more.

After You Retire

Monthly Retirement Benefit

When you retire, you will be paid a monthly benefit based on a calculation that factors in your years of Credited Service (CS) and Highest Average Compensation (HAC).

The plan offers payment options that can provide monthly payments for your surviving spouse or designated beneficiary after you die. The payment option you select at retirement will impact the amount you receive each month. See more about payment options.

Resettlement Benefit

At retirement, you may be eligible for a resettlement benefit. It is calculated based on your monthly retirement benefits. See more.

Post-Retirement Health benefits

Retired clergy and their spouses who are enrolled in Medicare may be eligible to receive financial assistance for the purchase of post-retirement health benefits offered through the Episcopal Church Medical Trust upon reaching age 65. See more.

Survivor's Benefits

The Clergy Pension Plan provides survivor’s benefits for your eligible surviving spouse, eligible children, and named beneficiaries. The amount of the benefit paid to your surviving spouse is determined by the payment option you chose when you retired and any divorce agreements detailed in a Qualified Domestic Relations Order (QDRO).

Retirement benefits available for same-gender spouses

UPDATE: Retirement Benefits Available for Same-Gender Spouses

As you know, if you are legally married to a same-gender spouse, your spouse is eligible for full spousal benefits if you earn at least three years of credited service while married.

Acknowledging that same-gender marriage was only recently recognized nationally, and also in response to General Convention Resolution 2015-D047, we are relaxing eligibility requirements for same-gender spouses until December 31, 2017. Specifically, whether you are active or retired, we are allowing same-gender spouses to receive full (or partial) spousal benefits if you are legally married and can present an Affidavit of Committed Relationship by December 31, 2017, to show your spouse’s eligibility for benefits. Same-gender surviving spouses of retired participants may also be eligible for spousal benefits under certain circumstances.

If you have already submitted an affidavit and made a spousal benefit election, you do not need to submit another affidavit, and the election that you made will continue to apply. If, however, you previously submitted an affidavit and were not eligible to make a spousal benefit election, please call Client Services to discuss your specific situation.

We are making every effort to communicate this opportunity to everyone. Please share this information with those you think might benefit from it. Please call the Client Services team at (866) 802-6333, Monday – Friday, 8:30AM – 8:00PM ET (excluding holidays) for more information, or email us at benefits@cpg.org.

 

  • Survivor‘s Monthly Benefit – Your surviving spouse or named beneficiaries may be eligible to receive a monthly benefit.
  • Surviving Dependent Children Benefit – Surviving dependent children may receive a benefit. Additional benefits may be available to your children if they are disabled.

For more information, please see A Guide to Benefits Under the Clergy Pension Plan.

Pensions Disclaimer

Right Rail

Clergy Pension Plan Revisions

The Church Pension Fund has announced revisions to the Clergy Pension Plan and related benefits expected to be effective January 1, 2018.

Learn more

If you are planning on retiring in 2017 or 2018, contact CPG to schedule a retirement discussion at
(866) 802-6333
Monday - Friday
8:30AM - 8:00PM ET
(excluding holidays).

Update for Same-Gender Spouses

See updated information regarding eligibility requirements for same-gender spouses to qualify for benefits.

Read More

When Can I Retire?

View your retirement options, including:

  • Normal Retirement
  • Early Retirement
  • 30-Year Early Retirement