Pension Contributions for a non-US Lay Employee
Resolution text
Resolved, That the Treasurer is directed to pay $47,000 from the Executive Council Pension Reserve, account 11-151-3304, to make employer contributions to a long-service employee who is based outside of the United States and is not a US citizen.
Explanation
The defined contribution plan for lay employees specifically excludes non-US citizens, while the CPG defined benefit plan for clergy does cover all clergy canonically resident in a TEC diocese. The employee in question would have been eligible to receive employee contributions under the pension plan prior to CPG. The $47,000 is for the period 2004-2013 and 2017/2018 and will be paid into a private UK pension account. Providing this contribution is deemed a small step in achieving pension equity for all DFMS employees. Effective 2019, employer base contributions will be paid directly to a UK pension account and are already included in the triennial budget.