Members of the Orthodox Church in America’s Pension Board held their quarterly meeting at the Chancery here on Tuesday, December 17, 2019.
In addition to routine business, Board members approved the continuation of the Parsonage Designation Declaration for members of the clergy receiving pension benefits. Retired clergy may be able to exclude a portion of their benefits from income tax. The details of this declaration may be accessed online.
The Board reminds all clergy to seek professional tax advice.
Additionally, Board members heard a report from Michael S. Stieglitz, Plan Administrator, regarding his recent presentation to students and prospective students at St. Tikhon’s Orthodox Theological Seminary [STOTS], South Canaan, PA. Michael enjoyed speaking with the class about the OCA Pension Plan and other clergy matters related to retirement.
The Orthodox Church in America Pension Plan serves over 335 active participants and more than 200 retirees, widows, and beneficiaries. The OCA Pension Board offers participants the opportunity for a secure financial income in retirement.
Therefore, through membership in the Plan, you can focus on expanding the work and witness of the Church while having the peace of mind of concurrently developing a retirement income for your own future and the future of your fellow clergy and church workers. Participation is required and mandated by the >All-American Councilfor all clergy and all parishes. A wealth of information and resources concerning the Plan is available on-line.
Pension Board Trustees include His Eminence Archbishop David; Priest Gleb McFatter; Archpriests Matthew Tate and John Zdinak; and Mary Ann Bobulsky, Matushka Mary Buletza Breton, and Barry Gluntz. Michael S. Stieglitz serves as Pension Administrator and Barbara Anderson serves as Pension Bookkeeper.