• Systems Unavailable Saturday, June 19
• DAC and CACs Now Available for 2023
• New Blog Post: Recapping the Historic Week for Sustainable Investing in the Oil and Gas Industry
• Saving Grace Introductory Events Coming in July

Systems Unavailable Saturday, June 19

Due to system maintenance, Wespath Portal, Benefits Access Plan Sponsor Portal, Contribution Management, Institutional Investor Portal and the Comprehensive Benefit Funding Plan (CBFP) will be unavailable starting Saturday, June 19 at 10:00 a.m., Central time through Saturday afternoon to allow for system maintenance and updates. We apologize for any inconvenience this outage may cause.

DAC and CACs Now Available for 2023

The Denominational Average Compensation (DAC) and Conference Average Compensations (CACs) for jurisdictional (U.S.) conferences are now available for 2023. The attached document provides a complete listing, by conference name, of both the 2022 and 2023 figures.

In addition, the attached graph may be of interest. It shows that in the recent past, the total amount of compensation in the U.S. for full-time clergy has been decreasing at a slower rate than the total number of U.S. full-time clergy has been decreasing. This past year, though, total compensation had a fairly sharp decline. The total number of U.S. full-time clergy still decreased faster, but to a much smaller extent than in the past. Therefore, the DAC increased only 0.9% this year, which is less of an increase than prior years.

To use the DAC and CAC figures properly, please remember the following:

• Wespath calculates the DAC and CACs solely for use by the denomination's U.S. pension and welfare plans for clergy. Any other use is strongly discouraged.


• In general, the DAC and CAC are averages of the compensation (as defined by the benefit plans) of full-time U.S. clergy who participate in the Clergy Retirement Security Program (CRSP) and/or the Comprehensive Protection Plan (CPP).


• The DAC includes the compensation of clergy serving local churches in the U.S., jurisdictional bishops and district superintendents, and clergy serving general agencies and other appointments in the United States extending the ministry of The United Methodist Church. Clergy in those extension ministries are included only if they participate in the Clergy Retirement Security Program (CRSP) and/or the Comprehensive Protection Plan (CPP).


• The CACs include the compensation of district superintendents but exclude the compensation of bishops and clergy serving general agencies.


• Plan compensation includes housing allowances, housing exclusions and certain tax deferrals, such as United Methodist Personal Investment Plan (UMIP) before-tax contributions and Code section 125 medical spending account deferrals. For clergy living in a parsonage, plan compensation also includes an amount equal to 25% of compensation.


• Plan compensation excludes amounts paid in lieu of a conference providing a group health plan.


• Plan compensation includes moving expense payments due to changes in tax laws effective for the 2021 DAC. Wespath uses a "lookback year" approach by including in the current year's DAC calculation the moving expense payments provided in the prior calendar year.

To accommodate the Church's advance budget planning needs, Wespath sustains a long tradition of calculating the DAC with a two-year lag. In other words, the 2023 DAC is calculated based on 2021 compensation data. There are no adjustments or projections to account for the two-year difference.

¹Denominational Average Compensation is a specifically defined term associated with the Clergy Retirement Security Program, including its Supplements, and the Comprehensive Protection Plan. As such, its name can be changed only by General Conference.

New Blog Post: Recapping the Historic Week for Sustainable Investing in the Oil and Gas Industry

Activist pressure at ExxonMobil. A majority vote at Chevron. An unprecedented court decision affecting Shell. Last week, these headlines defined what some have called a "watershed moment" in the transition to net-zero. In our latest Investment Insights blog post, Wespath's Jake Barnett recaps the news and explores what's next for the sustainable investment community.

Saving Grace Introductory Events Coming in July

Wespath wants to empower clergy and local church leaders to teach financial well-being skills to their congregations—and the wider community—so it is offering two informational events about Saving Grace: A Guide to Financial Well-Being. A biblically-based, Wesleyan tool, Saving Grace can help group leaders and participants reach financial well-being goals.

Each event provides an overview of the curriculum and features presentations from the content experts featured in the Saving Grace videos. Clergy who successfully led groups through Saving Grace will also share their insights.

There will be two virtual events. Both events will cover the same material, so pick the date and time that best suits your calendar:

• Tuesday, July 20 from noon to 4:00 p.m., Central time, or
• Monday, July 26 from noon to 4:00 p.m., Central time.

The registration fee is $15 for the first person and includes one workbook. Each additional person is just $10 more, and all registrants will receive a workbook.

Register here for the day that is best for you.

---

Copyright © Wespath Benefits and Investments,
a general agency of The United Methodist Church
Share your suggestions and comments about On Board Express