The Comprehensive Protection Plan (CPP) provides long-term disability, death and
other benefits for participants and their families. You are eligible to participate
if you are a clergy person under full time Episcopal Appointment. Other eligibility
rules apply, and you should refer to your CPP Benefit summary for further details.
To participate in CPP, a clergy person's plan compensation (salary + housing)
must be equal to or greater than 60% of either the Denominational Average Compensation
or the Conference Average Compensation, whichever is less.
Denominational Average Compensation for 2001 = $42,233
Conference Average Compensation for 2001 = $42, 963
Plan Features
* Financial support in the event of disability or death
* Benefits are payable upon the death of an active or retired participant, his
or her spouse or surviving spouse, and his or her children under the age of
19
* Educational benefits for surviving children attending school may be available
upon the death of an active or retired participant
* Comprehensive disability benefits include: monthly benefit payments; annual
increases; rehabilitation and vocational services; and assistance with application
for benefits from the Social Security Administration
* Pension supplement may be provided for eligible participants
2001 Death Benefits
Active: varies depending on age; 1/1/02 this will change to a flat $50,000
Retiree: $12, 669.90
Spouse: $8,446.60
Surviving Spouse: $6,334.95
Children under the age of 19: $4,223
Educational Benefits: $8,446 annually for each child up to age 25, with a maximum
of 4 years
Pension Supplement: Survivor income is whatever is in the account but not
less than 20% of the DAC annually, or $8,446
|
