Anglican Communion Network

Network Announces Retirement Plan for Clergy

The Anglican Communion Network is pleased to announce the rollout, effective April 1, of its Qualified Retirement Plan for clergy. ACN-related clergy who are not in or otherwise eligible for the Church Pension Fund of the Episcopal Church USA (ECUSA) are invited to enroll.

The Plan Provider selected by the Network is American Funds, highly regarded in the investment community with more than 70 years of investment experience. The Plan is a defined contribution plan and provides for annual contributions by employers of up to 20% of compensation. Covered clergy have the option to contribute additionally to the plan in accordance with federal regulations.

Contributions are vested when made, and the benefits, which are transportable, can also be augmented by rolling over into the Plan other portable retirement accounts. The plan was launched on April 1, but arrangements can be made to apply the plan retroactively to January 1, 2006.

Application forms for parishes, clergy and other organizations to join the Network are available online at www.acn-us.org/join. Applications to enroll in the Clergy Retirement Plan can be obtained by contacting Lisa Waldron, ACN Director of Accounting, at lwaldron@www.acn-us.org or by calling 412-325-8900 x102.

In addition, the Network anticipates announcing a retirement plan for lay employees, property and casualty insurance programs for parishes and organizations, and a group health insurance program before the end of the year. In connection with these efforts, the Network is gathering input from its members to help with the development of a health care benefits plan. Network affiliates and partners are invited to download a health insurance survey form at www.acn-us.org. Completed surveys can be faxed to 412-325-8902 or mailed to 535 Smithfield Street, Suite 910, Pittsburgh, PA 15222.

“We are excited that we are now able to offer the retirement plan for eligible clergy,” said Wicks Stephens, ACN Chancellor. “We hope by year’s end to be able to offer a whole range of benefit options for our Network constituencies, both clergy and lay.”