A Ministry Partnership That Transforms: My Journey with the Pension Boards

The Rev. Dr. Michael L. Sloan has been a Pension Boards member since receiving his first full-time call to serve. He has maximized a number of programs and benefit offerings that are providing both him and his family financial stability and cost-savings support, and also has sharpened his leadership skills and renewed his sense of calling.

My journey with the Pension Boards began seven years ago, when I accepted a full-time call to serve as Senior Minister of a United Church of Christ congregation in Upstate New York.

As part of my compensation package, the church contributed 14% of my cash salary plus the value of the parsonage toward my pension. In addition, I received a full comprehensive insurance package. Later, I discovered the Flexible Savings Account (FSA), which became a tremendous resource in my effort to grow as a more intentional financial steward. The FSA not only helped reduce my tax liability but also created a disciplined structure for managing medical expenses. Having a VISA card specifically designated for eligible medical expenses was a major asset for my family and me.

A few years into my pastorate, my Conference Minister emailed me to ask whether I might be interested in a program called MFVI. I replied, “What is MFVI?” After learning more, I agreed to participate—and I am profoundly grateful that I did.

MFVI—or Ministers’ Financial Vitality Initiative—is a three-year program offering clergy access to professional financial advisors, webinars, and education on topics such as clergy taxes, student loan management, household budgeting, and other financial topics. Through MFVI, I learned not only to reorient my family’s financial life but also to reflect more deeply on my emotional relationship with money.

The program also offered tangible benefits that made a significant difference: $3,000 in tax-free grants for three consecutive summers to reduce my debt, and access to a low-interest loan for debt consolidation. These supports came at a pivotal season as I began charting a long-term path toward financial wellness—including planning for a fruitful retirement.

During one of MFVI’s webinars, I also learned about Project Horizon, a five-year initiative designed for clergy who contribute at least 2% of their salary annually to their pension. The program helps clergy maximize retirement income through an incentivized savings feature.  Since I was already contributing well above the minimum threshold, participation was an easy decision. Their contribution to my pension is a motivating factor signifying that dedicated financial stewardship does pay off.

In January 2025, my wife and I welcomed our twin daughters into the world—a moment of simultaneously breathtaking joy and financial complexity. When my wife decided to take an extended leave from work, I contacted both our church treasurer and the Pension Boards to discuss health insurance coverage. Their team guided us with remarkable compassion and clarity, helping us add my wife and daughters to my policy for a six-month term until she returned to work in September 2025.

In September, we also encountered the jaw-dropping reality of daycare expenses. I reached out to the Pension Boards and a representative informed me about the Dependent Care FSA program—which allows up to $5,000 in pre-taxed income to be dedicated to childcare. Although the savings are not immediate, my wife and I estimate that we will save about $1,000 in taxes. While I am not a penny pincher, this certainly put a smile on my face. Their steady guidance made the process simple and stress-free.

On one Tuesday evening in February 2022, while scrolling through Facebook, a post about the Next Generation Leadership Initiative (NGLI) caught my eye. After watching a brief video introduction, I reached out to the program director, the Rev. Krista L. Betz. That single act of curiosity has since grown into one of the most transformative experiences of my ministry!

NGLI is a fully funded, six-year leadership formation program designed to equip millennial clergy who sense a long-term call to parish ministry. Through the Pension Boards’ generous support, I have been able to travel to several key destinations across the country. These gatherings were far more than conferences; they were sacred spaces of renewal, discernment, and community. The time away from my congregation allowed me to step back, reflect deeply on my vocation, and return home re-centered and re-energized for the work of ministry.

Through NGLI, I have also been blessed to connect with a network of millennial clergy—faithful colleagues who understand the unique challenges and opportunities of leading the church through what the late Phyllis Tickle called “The Great Emergence.” The program’s emphasis on long-term ministerial vitality has deepened my resilience, sharpened my leadership, and renewed my sense of calling.

One exercise in particular—a family genogram—helped me trace the root of a specific emotional and behavioral pattern through generations. Recognizing this inherited pattern has empowered me to respond to moments of pastoral crisis with greater self-awareness and spiritual maturity.

Looking back, I see the Pension Boards not merely as a financial institution but as a ministry partner—one committed to the holistic wellbeing of clergy and families. They have been there through transitions, life changes, and vocational discernment, offering guidance and support.

Their mission has allowed me to focus on what truly matters: being a faithful steward to my congregation and providing financial stability for my family, both now and in the distant future.