in the know

New Eligibility Policy:  Effective January 1, 2008, the eligibility standards for participation in the Defined Benefit plan have changed.  This change only affects those hired on or after January 1, 2008.  Click here to see how these changes may affect you.

IRS Goof:  Have you received an IRS letter stating you owe taxes on your 2005 Retirement 1099? Don't pay this!  The IRS accidentally duplicated the 1099R file we sent for 2005 retirees and created 1099Misc records.  If you receive a letter stating you owe taxes on your 2005 tax return, PLEASE contact us.  We have contacted the IRS concerning this problem and while they are trying to correct it, we are sending individual letters to the IRS as a response for anyone who has received an IRS letter.  Click here to read our newsletter which addresses this "goof" by the IRS.

Social Security:  Effective January 1, 2006, Social Security should be included as part of compensation for pension reporting purposes - regardless of how it is listed in the church budget.  Click here to learn more about reporting compensation for pension.

Change of Status Forms:  Have you had a change in your status or salary recently?  If so, click here to complete a form that will keep your pension up-to-date!

New Enrollees: Are you new to ministry with the Free Methodist Church?  Are you eligible for our pension plan?  Click here to get eligibility information.

Defined Contribution Lump Sums: As of the April 2007 Board of Administration meeting, active or inactive participants can take their benefit at any time.  Click here to see your options.

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