Virginia Episcopalian Magazine Winter 2015 Issue | Page 29

Need-to-Know: From the Finance Office At the 2014 Treasurer’s & Administrator’s Conference Series, church staff and volunteers had the opportunity to meet with diocesan finance office staff members to learn about important updates in the world of insurance, benefits and pensions. Check out these five takeaways from the conference series below. Have more questions? Contact one of your finance office team members. 1) Effective Jan. 1, 2013, lay pension is now mandatory for all  staff working at least 1,000 hours per year. Employees may not opt out. Churches not providing this benefit are leaving themselves vulnerable to possible litigation. 2)  udits, which may take one of three forms, are required A and provide a way of showing the audit committee, the vestry and, ultimately, the congregations that all donations have been used as authorized. Information for audit procedure is available on the diocesan website and anyone having trouble with audit procedures should contact the treasurer’s office. 3) Effective Jan. 1, 2016, all employees working at least 30  hours per week (1,500 hours per year) must be covered with health insurance at the same level as their clergy. The Staff Changes Laura Hicks, benefits administrator for the Diocese, has resigned from her position after 10 years of service. Laura will remain within the diocesan family, however, by retaining her part-time duties as an assistant for the Trustees of the Funds. In her decade on the diocesan staff, Laura has coordinated enrollment for the diocesan insurance plans, in addition to managing transactions for Shrine Mont, processing investments for the Trustees of the Funds and administering the diocesan database. Laura is a member of St. Mark’s, Richmond, where she serves as treasurer. She is a graduate of Texas A&M University. Prior to joining the diocesan staff, Laura worked as a CPA at various non-profits in Richmond. “In addition to her dedication and skill, Laura has brought great spirit and humor to the diocesan staff team,” said Bishop Johnston. “I know that her experience will continue to be a great benefit to the Trustees of the Funds, although we’ll miss her presence here at Mayo House.” At the time this issue went to press, the Bishop was still in a search process for a new benefits administrator. Ted Smith, Treasurer 800-DIOCESE x1046 [email protected] Joy Buzzard, Finance Administrator 800-DIOCESE x1022 [email protected] Millie Lofton, Bookkeeper 800-DIOCESE x1023 [email protected] minimum health insurance level to be provided is outlined in detail in the Diocese of Virginia Parity model, which was approved by the Executive Board. Each church is required to select a base plan. The church must pay at least for coverage at the following levels: 90 percent of single coverage, 80 percent of couple or parent coverage, and 60 percent of family. Churches may provide greater coverage, but it must be for all employees. 4)  ealth insurance rates have increased 15 percent over H 2014 rates. The increase is driven by our experience in the previous two to three years and we have had a loss experience of 125 percent. The new rates are available on the diocesan website under 2015 Benefit Costs. 5)  he Church Pension Group has released a new feature T for all church employees, MyCPG.org. All church staff members need to establish their MyCPG accounts (through the CPG.org website) as this portal will be used to implement open enrollment changes for health insurance. Employees may also report address changes, new dependents or spouse information through the portal. If you need assistance getting access to your MyCPG account, contact CPG at 844-594-2201. Important Dates: Audits:  ue Aug. 30 of the following year D (2014 audits due 8/30/2015) Pledge Card:  ue Nov. 30 of the preceding year D (2016 pledge due 11/30/15) Parochial Reports:  ue filed online by May 1, D paper filing due March 1 WINTER 2015 / Virginia Episcopalian 27