Faith & Finance
14 min read
Generations: A Journal of Faith and Finance - Cultivating Resilience and Self-Care in a Multi-Vocational World
According to the Center for Analytics, Research & Development, and Data (CARDD) United Church of Christ (UCC) FACT 2023 study, 45 percent of UCC pastors are working part-time.
As traditional full-time ministry declines, the ever-rising cost of living are prompting pastors to seek additional income sources beyond the pulpit.
In the latest issue of Generations: A Journal of Faith and Finance, themed "Cultivating Resilience and Self-Care in a Multi-Vocational World," we reveal some of the reasons behind this trend.
If you are a caregiver, learn self-care techniques from our Chair of the Board of Trustees, the Rev. Dr Rodney Franklin, as he imparts his own experiences working as a chaplain, in the article, “When Self-Care Becomes Home to You and Those You Serve.”
If you would like to take control of your finances, consider exploring “Second Streams for Low-Earning Pastors,” from the Rev. Dr. Michael Sloan, Senior Minister of First Congregational Church, Spencerport, New York.
The summer issue of Generations contains a myriad of resources that we believe will help secure your health and financial footing as you answer your call.
RESOURCES YOU CAN USE
Explore the numerous resources featured in the summer 2024 issue of Generations: A Journal of Faith and Finance, and discover the Pension Boards’ comprehensive ministry offerings, designed to support your overall health, leadership development, and personal financial needs. For inquiries, please contact the Pension Boards at 1.800.642.6543.
Benefits for Children with Disabilities
- Caregiving
- Coping with Grief and Loss
- Financial Matters
- Care Outside of the Home
- Talking About Serious Illness and Care
- Your Rights
Caring for Special Needs Children
Center for Analytics, Research & Development, and Data
Child Turning Age 26 - The Effect on Health care Coverage
Direct Deposit for Social Security
Hartford Institute for Religion and Research Survey
Institute on Aging: Bill Paying for Seniors
Part-Time is Plenty: Thriving without Full-Time Clergy
- Special Needs Trust
- Living Arrangements
- Legal Guardianship
RECOMMENDED SELF-CARE RESOURCES
Pastoral Care, Self-Care and Mental Health Resources
Southern New England Conference
All Our Losses, All Our Griefs: Resources for Pastoral Care
By Kenneth R. Mitchell and Herbert Anderson
Recalling Our Own Stories: Spiritual Renewal for Religious Caregivers
By Edward P. Wimberly
By David Daniels and Virginia Price
Becoming a Healthier Pastor: Family Systems Theory and the Pastor’s Own Family
By Ronald W. Richardson
Spiritual Care in an Age of Black Lives Matter
By Danielle J. Buhuro
Know Your Story and Lead With It: The Power of Narrative in Clergy Leadership
Richard L. Hester & Kelli Walker-Jones
Flourishing in Ministry: How to Cultivate Clergy Wellbeing
By Matt Bloom
PENSION BOARDS’ RESOURCES
Financial Wellness
Financial Education and Guidance
Securing your ministry foundation includes a well-thought-out financial plan. All Pension Boards’ members receive unlimited access to financial guidance that includes one-on-sessions with financial planners, educational monthly webinars, online tools, budget worksheets, and more.
Lifetime Retirement Income Plan for the United Church of Christ
The Lifetime Retirement Income Plan is a valuable benefit that can help you secure guaranteed monthly income when you reach your retirement. This document outlines key features of the Plan.
Securing Your Foundation Video
Changes in your ministry role, unexpected life events, or other personal challenges can impact your financial wellbeing. Securing a firm financial foundation is vital for your effectiveness in life and ministry. Rely on the Pension Boards for guidance, so you can continue your God-given call with confidence.
Target Annuitization Date Funds
Target Annuitization Date (TAD) Funds, one of the many investment options offered through the Lifetime Retirement Income Plan, offer you the opportunity to secure the best financial outcome at retirement without the hassle of hands- on portfolio reallocations. TAD Funds automatically invest more conservatively as you approach your retirement year.
The Realities of Money: A Video Reflection
The Rev. Zack Jackson, Pastor, Open Table UCC in Pottstown, Pennsylvania, and participant in the Ministers’ Vitality Initiative (MFVI) program, shares a few reflections of about debt and finances, and the financial struggle of other pastors like him.
For some UCC ministers, the dream of being debt-free is right around the corner, but for others, that goal may be years away. Regardless of where you are on your financial journey, here are a few steps you can take to help you pay down your debt, so you can focus on your other financial goals.
Prioritize Your Health Needs
With health care costs rising faster than both salaries and inflation, wouldn’t it be great to find a way to reduce your out-of-pocket costs? And wouldn’t it be great if you could pay for child-care expenses on a pre-tax basis? You can do both by participating in the Flexible Benefit Plan for UCC Ministries (generically referred to as a Flexible Spending Account or FSA).
Healthy Stewards Rewards Program through HealthAdvocate℠
The Pension Boards is committed to your health, financial, and emotional wellbeing. Through our partnership with HealthAdvocate℠, UCC Non-Medicare Health Plan participants and their covered spouse/partner are eligible to earn up to $500 each in rewards for participating in healthy activities.
If you are experiencing a personal crisis, grief, stress, or financial loss, their Member Assistance Program specialists can walk you through any of life’s temporary setbacks through in-person visits, and unlimited confidential phone consultations. What’s more, if you need encouragement or guidance for losing weight, managing stress, or managing a chronic condition, you can schedule a series of phone consultations with a Health Coach, and earn rewards points for making those call commitments.
The Pension Boards knows that one of the greatest financial and emotional risks you face is the possibility of needing long-term care. The risks and associated costs are simply too great to ignore. Learn about services to provide advocacy to those in a caregiving crisis, free care resources to those seeking caregiving and planning information, and free care planning to those preparing for their future care needs.
Yes, we care about your pet’s health too. Pension Boards’ health plan participants, in partnership with MetLife Pet Insurance, can help you take the worry out of covering the cost of unexpected pet care. You may be able to cover up to 90 percent on veterinary expenses at any licensed veterinarian, specialist, or emergency clinic in the U.S.
Prioritizing your health and wellbeing is critical to a flourishing ministry. The UCC Medical Benefits Plan offers a schedule of comprehensive benefits to assist participants in maintaining healthy lifestyles, with emphasis on preventive care, wellness, and chronic condition management. The plan includes wellness and preventive care, pharmacy and mental health benefits, and optional dental and vision benefits.
In partnership with Humana, Medicare-eligible dependents have the most comprehensive and cost-effective health benefits plan that covers both medical and prescription drug costs, and with access to a preferred provider organization (PPO) network of health care providers. View the Humana Benefit Kit for a summary of benefits, including Rx benefits, prescription drug guide, and the SilverSneakers® wellness program.
UCC Life Insurance and Disability Income Benefit Plan
The UCC Life Insurance and Disability Income Benefits Plan (LIDI) is designed to support UCC employees in performing their ministries. This Plan offers four key benefits: Basic Life Insurance, Optional Additional and Dependent Life Insurance, Short-Term Disability, and Long-Term Disability insurance.
Skip the waiting room and seek medical advice from the privacy of your home. Through the Pension Boards’ partnership with Teladoc, all Health Plan participants can receive 24/7 diagnosis and treatment services for non- emergency medical needs for $0 copay.
Non-Medicare Plan participants receive discounts on health and wellness resources, including nutrition, fitness, vision, and hearing services, as well as travel savings through Highmark.
Grants & Leadership Initiatives
United Church Board for Ministerial Assistance (UCBMA)
The United Church Board for Ministerial Assistance (UCBMA), the philanthropic arm of the Pension Boards, provides direct financial support and compassionate responses to authorized ministers, lay church employees, and their surviving spouses/partners, in times of urgent need and personal crises; and administers and raises funds for leadership initiatives that promote faithful and fruitful ministry across the United Church of Christ. See below.
The Annuitant Visitor Program provides annual visits to over 6,000 retired clergy, missionaries, and their spouses/partners in the United Church of Christ. Through these visits, Annuitant Visitors serve as ambassadors for the Pension Boards’ benefits, communicate appreciation for a lifetime of dedicated service, and offer collegial support.
We offer several grants that provide direct support to those in need including pension supplementation; health benefits supplementation for retirees; emergency grants; grants for annuity or health insurance for new church start pastors; grants for retired or disabled clergy/lay employees; scholarships to children of disabled or deceased clergy; and the tradition of providing annual “Thank You” gift checks at Christmastime to lower-income retirees and their spouses/partners.
Ministers’ Financial Vitality Initiative (MFVI)
Seminary and consumer debt, limited income, and lack of resources can affect the ability to secure a healthy financial future for those who follow God’s call, especially those who serve in small congregations. MFVI, a three-year personal finance education program, empowers UCC authorized ministers to live financially healthy lives through the development of financial literacy skills, counseling, and yearly financial incentives.
Next Generation Leadership Initiative
NGLI has is a leadership development initiative that equips, energizes, and empowers younger UCC local church pastors to build vibrant congregations that change lives and further God’s mission in the world. It seeks to honor and challenge younger clergy who have accepted the high calling to parish ministry, who demonstrate significant potential, and who view parish ministry as a career path and are willing to make a long-term commitment to service in congregational settings of the United Church of Christ.
“If you are feeling shackled down by debt…take advantage of the programs that the Pension Boards is providing.”Rev. Zack Jackson
Pastor, Open Table UCC in Pottstown, PA
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POPULAR RESOURCES
Securing Your Foundation for the Ministry of Others
Changes in your ministry role, unexpected life events, or other personal challenges can impact your financial wellbeing and retirement plans. Secure your financial foundation.