Wespath, the church agency that handles pensions, has put together a video that answers questions such as whether clergy pension plans are fully funded and why a disaffiliating church is required to make a payment to the conference it is leaving.
Watch video or listen to interview as a podcast.
Read Wespath’s Frequently Asked Questions about disaffiliations.
Note (From Wespath) regarding use of Par. 2548.2:
Q: I heard that there is a UMC “comity agreement” for local churches that transfer to the GMC under ¶2548.2 that would accomplish the same things as the Protocol, such as transferring pension liabilities to a GMC plan and preserving clergy pensions—is that right?
A: No, that is not correct. There is not a denominational comity agreement. Annual conferences might create comity agreements that suit their local context, but even then, the terms of the Protocol cannot be accomplished without General Conference. At most, a comity agreement might adjust how pension withdrawal payments are paid (in the sole discretion of annual conferences), but the obligation to pay the withdrawal liability is still owed by the separated church and the obligation to fund CRSP is still owed by the UMC churches that remain in the annual conference. In addition, clergy who terminate their annual conference relationship under ¶360 of The Book of Discipline will have their pension benefits converted to an account balance and transferred to UMPIP.