Explanation

Currently there are two pension plans for lay employees of the church. The Defined Benefit Plan and the Defined Contribution Plan. The Defined Benefit Plan provides for a 9% contribution paid by the employer; while the Defined Contribution Plan provides for a 5% contribution paid by the employer and the allowance for a 4% contribution by the employee. The church has long stated that it believes in the mutual ministry of lay and ordained members of the church; yet, the financial compensation plans for ordained members far exceed those offered to most lay employees, even if experience and education backgrounds are similar. Studies have shown that compensation plans for women, whether ordained or lay also lag behind those for men. One way to begin bridging this gap is by equalizing pensions for all employees to the current level offered for those who are ordained.