Pension Board continues Parsonage Designation Declaration for retired clergy

Members of the Orthodox Church in America’s Pension Board held their quarterly meeting at the Chancery here on Tuesday, December 14, 2015.  In addition to routine business, the Board approved 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 here.  The Board reminds all clergy to seek professional tax advice.

The Orthodox Church in America Pension Plan serves over 330 active participants and more than 125 retirees, widows, and beneficiaries.  The Plan is the only approved retirement vehicle for OCA parishes and clergy.  Participation is required of all clergy and parishes.  The Plan is available for all full-time Church workers.  Information and resources concerning the Plan are available here.

Pension Board Trustees include His Grace, Bishop David, Episcopal Moderator; Priest Gleb McFatter, Chairman; Archpriests Matthew Tate and John Zdinak; Theodore Bazil, Matushka Mary Buletza Breton, and Barry Gluntz.