Explanation

This resolution is patterned on 2009-A177, which established the Denominational Health Plan and directed the Trustees and Officers of the Church Pension Fund to design and administer that plan. The Priest Development Plan would follow a similar model. Funding for the Priest Development Plan would be accomplished through assessments of individual Parishes, Missions, etc. based upon the salaries and other compensation paid to their clergy. A parish with a single part-time clergy person would be assessed much less than a parish with multiple full-time clergy persons; thus the collection would be fairly assessed according to an organization’s means. Assessments would be collected into an "Episcopal Church Education Trust.” Funds from this trust would be disbursed annually according to a design established by the Trustees and Officers of the Church Pension Fund to support postulants and candidates to the priesthood. What amount might this assessment be, and how much could it raise? In 2016 and 2017, the last two years for which we have information, the Church Pension Fund received assessments paid into the Clergy Plan of $83 million in each year (footnote 1). A 0.7% increase in the 18% assessment on clergy compensation would result in $3.23 million annually to be put towards clergy formation in Episcopal seminaries. How much financial assistance might individual postulants and candidates receive from this plan? The most recent “State of the Clergy” report by the Church Pension Group (footnote 2), lists ordinations between 2009-2012 at 714 total. Since many seminary programs last three years we can use this number as a rough estimate of the number of postulants and candidates in Episcopal Seminaries in any particular year. Dividing $3.23 million by 714, we arrive at just more than $4,500. This is an estimate of the annual stipend a seminarian supported by their diocese might receive. The Church benefits from having educated clergy. So do individual mission organizations. It is appropriate for Parishes, Missions, and other ecclesiastical organizations and bodies subject to the authority of this Church to support the education of the clergy that serve them. 1 “Assessments paid to CPF on behalf of the participants in the Clergy Plan, the Lay Plan and the Staff Plan were $83 million, $5 million and $9 million, respectively, during the year ended March 31, 2017 and $83 million, $5 million and $13 million, respectively, during the year ended March 31, 2016.” 2017 Annual Report of the Church Pension Fund; Page 28. Found in June, 2018 at https://www.cpg.org/global/about-us/forms-publications/ 2 Priest ordinations. 2003-2005: 1,076; 2006-2008: 1,038; 2009-2011: 714 in 2010 – 382; in 2013 – 355; in 2016 – 322. 2012 State of the Clergy. Published by CPG. Page 4. Found in June 2018: https://www.cpg.org/linkservid/DC3EE5A8-F95C-2278-107475F87BFDB2AA/showMeta/0/?label=State%20of%20the%20Clergy%202018