Student Loan Repayment Grant (2016)Must be postmarked by April 30, 2017
Pension Equity Grant (2016) Must be postmarked by April 30, 2017Purpose: To supplement pension payments for rostered leaders serving in the synod, whose compensation is at the low end of the salary scale. Background Data: “Defined Compensation” is a term used by Portico (ELCA Pension Provider) to determine pension payments for rostered leaders. It includes base salary, social security allowance and housing allowance. If a parsonage is provided instead of a housing allowance, then 30% of the base salary figure is classified as housing compensation (per IRS regulations). Congregations are encouraged to make a pension contribution of 10% of the annual defined compensation. The annual amount for eligibility of pension equity grants is set by the Endowment Committee annually. It is currently at $50,000. The average compensation in North Dakota is below the ELCA average. Since pension contributions are based on compensation, we are trying to make up the difference. Our goal is to supplement pension payments for rostered leaders whose pension contributions are below the ELCA average. Allocation: 1)Applications are available in January, due April 30. 2)Allocation will be made each calendar year, for the previous year3)Rostered leaders who have served the entire previous calendar year in Eastern North Dakota are eligible to apply. 4)Payment will be made directly to Portico into the rostered leaders account upon approval of the grant application. 5)Allocation will be prorated for less than full time calls.
Leadership Development Grant Application Accepted anytime. Applications will be reviewed at the next Endowment Committee Meeting. The Endowment Committee typically meets in May and November.
Questions? Contact Jakelle at email@example.com.