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Defined Benefit Pension . Free Methodist Church – USA Pittsburgh Conference. Direct Pension Payment through ACH.
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Defined Benefit Pension Free Methodist Church – USA Pittsburgh Conference
Direct Pension Payment through ACH • Beginning with the month of January 2014, local churches will begin to process pension contributions directly through to the Pension Office in the Human Resources Department in Indianapolis. • This presentation is a tool to the pastor and local church treasurer to implement the change before December 8th, 2013. • The following screens include step by step instruction.
How does “direct billing” work? • Along with this presentation you will find a form entitled “Defined Benefit Pension Contribution Payment”. • This form is used as the authorization to remove through automatic withdraws the amount of the pastor’s pension. • The funds will come directly from the church bank account and into the pastors pension account.
Five easy steps to sign up… • Fill out the enclosed form (the next few screens will walk you through it). • Attach a voided check from the church bank account that will pay the pension premium. Make a copy of the form. • Return the form with voided check to Human Resources 770 North High School Road, Indianapolis, IN 46214-3756. (please return the form before December 8, 2013 with a notation that the ACH should begin in January 2014.) • Place a follow up call to the Human Resources department one week after your mailing to be certain the form has been received and processed. 1-800-342-5531 extension 214. • Keep the copy of the ACH form and make a notation to remove these funds monthly from your checking account balance. You will no longer see the green pension premium statement from the Conference office in the monthly mailing.
Defined Benefit Pension Contribution Payment If you are uncertain of your church number call the conference office at 724-437-1686 and we will provide it for you. Rochester Free Methodist Church 670 X (your bank name found on your check/ deposit slip) (the branch where the account was opened) (branch address) your bank acct # 9 numbers on check/ deposit slip that identify your bank.
Defined Benefit Pension Contribution Payment Rochester Free Methodist Church 670 Rochester Free Methodist Church (name of person who signs the church checks) (title of person who signs checks) (Email of church or church treasurer) (your contact number) (signature of check signer) (signature of 2nd check signer if required) (date that you complete form) (also make a notation here to begin withdraw in January 2014)
Please note… • If at any point your church has difficulty making a pension payment on time, please notify Human Resources immediately. They will take steps to work with you. Do not put off calling. • In the event that your church does not pay the contribution for the pastor, after 60 days the conference office will be notified. Negligent churches that do not pay will not be allowed to continue in the plan. The pastor will maintain their current accrued benefit, but will stop accumulating additional benefits. Based on your church’s ability to pay, benefits may be reinstated later. • DELINQUENT CHARGES: Human Resources currently charges for payments that are not paid on time and they will continue to do so. These late charges will be charged directly to the local church and will be billed on the invoice. The charge is a minimum of 5 and a maximum of 15 percent based on the investment return from the prior year.
OUR GOAL No Outstanding Bills If you have any questions or concerns, please contact the Pittsburgh Conference Office 253 S. Mt. Vernon Avenue, Uniontown, PA 15401 Phone: 724-437-1686 Fax: 724-437-1690 Email: pghconfoffice@verizon.net Website: pcfmc.org (this presentation and ACH form can also be found on the Pittsburgh Conference website)
