OCA Pension Board approves parsonage designation declaration

At their most recent meeting held at the Chancery of the Orthodox Church in America here on Tuesday, June 24, 2014, the OCA’s Pension Board approved a Parsonage Designation Declaration for members of the clergy receiving pension benefits.  Retired clergy may now be able to exclude a portion of their benefits from income tax.  The details of this declaration are posted and will be mailed directly to every clergy receiving pension benefits.  The Board reminds all clergy to seek professional tax advice.

In related matters, the independent auditors of the Plan, Saslow, Lufkin and Buggy, presented an unqualified audit report for the year ending December 31, 2013.  Interested parties may contact Maureen Ahearn, Plan Administrator, at .(JavaScript must be enabled to view this email address) to receive a copy of the report in PDF format.

The Orthodox Church in America Pension Plan serves over 325 active participants and more than 150 retirees, widows, and beneficiaries.  Participation in the Plan is required for all clergy and is encouraged for all full-time Church workers.  Plan booklets and numerous administrative forms are available under OCA Departments, Pension Board, at oca.org/about/boards-offices-commissions/pension-board.