Northern Trust, 75 Remittance Drive, Suite 6121, Chicago, IL 60675-6121
Church employers are required by Canon law to pay pension assessments on behalf of clergy, based on their compensation. Both The Church Pension Fund and clergy rely on you for timely assessment payments and accurate information.
- The current assessment rate is 18% of a cleric's total assessable compensation.
- Assessment payments keep clerics' participation in The Clergy Pension Plan active and up-to-date.
- The Church Pension Fund sends monthly assessment notices to employers.
- Assessments are billed in advance and payable when billed.
- Late payments may jeopardize benefits and may result in interest charges.
See Cost of Coverage in A Guide fo Clergy Benefits for more information.