His Eminence, Metropolitan Nicholas, with the members of the Priests’ Pension Board and the clergy, are asking Diocesan parishes to increase their annual contribution to the Pension Fund by an additional $100 per year, from $700 to $800. While a letter had been sent regarding this matter to all parishes on October 7, 2009, receiving overwhelming support, the Pension Board has been advised that this matter should be affirmed and approved in the legal setting of a Sobor-Council.
Note: At the Clergy Conference at the 21st Diocesan Council last year, the diocesan clergy voted to also increase their own personal contribution to the Pension Plan $100 per year, from $600 to $700. All clergy have already complied with this ruling.
At a special meeting of the members of the Diocesan Priests’ Pension Board convened at the Chancery by His Eminence, Metropolitan Nicholas, on February 8, 2010, after much discussion of several plans to improve the funding of the Plan and insure that diocesan priests would be able to receive a modest pension when they retire, the following was proposed and adopted for acceptance:
In addition to the adoption of Proposal #1, it is recommended that all diocesan parishes ask their faithful members (approximately 7,000 adult members) who fulfill their annual assessment to the Diocese of $60 per member, to also voluntarily contribute $15 per adult member to the Diocesan Priests’ Pension Fund, starting this year 2010 through 2014. This averages out to a little over .04 cents a day per year. This added amount from the parishes would assist the Fund to be fully funded in five years by 2014. The Fund will be able to continue providing a monthly pension to diocesan priests.