a questions about pensions

[_harmony]

Since I am newly retired, and in doing so, found out I have a pension to fund my retirement (which was a huge and very pleasant surprise), I have a question about CES employees.

Do CES employees (specifically BYU professors) have a pension? (the old fashioned kind that is built on years of service, not a 401K even with matching funds).

And if they leave the church (either by resignation or excommunication), is their pension/retirement fund dissolved?

Because I found out that my pension could not be taken away, even if I had been fired for cause.

So... any answer?

[_Bazooka]

Have you paid your tithing?

[_sunstoned]

I have a friend who is a seminary teacher. I do not know the deals, but he says that the church had a very good retirement plan.

[_Bazooka]

Harmony, you realise this is going to upset members who have paid tithing so that you can have a retirement plan whilst they are perhaps struggling with theirs. Perhaps you are willing to offer them cash back in recompense?

[_moksha]

Pension plans should have vesting. Ironclad vesting so corporate raiders like Mitt Romney cannot swoop in and strip the pension assets upon successful takeover bids.

Suspect that the Church pension fund may be a white shirt, tie and coat without the vesting. Except for top management. There is always an exception for top management. It may come in the form of a golden parachute or perhaps a coat of many colors, with a bottomless credit card still in the pocket.

If you remember back a few years, Dan and the Maxwell Bunch were kvetching that Grant Palmer waited till he was receiving his well earned Church pension before going hog-wild in spilling the beans of Mormon history. My assumption for than interchange, was the the pension could be snatched way right up until you retire, making it non-vested.

"So believe what they say girl and nod your head three ways
and they might not try and take the loot away from thee"
Polish up those apples and never go to sea
and you may end up being a Queen's pensionee."

[_Mormon Think]

Yes, I have talked to both Ken Clark (27 years as CES) and Grant Palmer (34 years as CES) and both receive "traditional" pensions from the Church. Ken did not stick out the full 30 years so he doesn't get a "full pension" but still gets a pension from the Church.

Bill

[_No_Hidden_Agenda]

Traditional pension...

The former CES man I know says his pension shouldn't be in jeopardy even if they excommunicated him but he doesn't want to risk it. He'd like to write a tell-all that would almost certainly get him in hot water (though he predicts the church would own up to all of it in 20+ years) and he worries that they may find ways to take his retirement away if he did. They shouldn't be able to take it away but he's not convinced they wouldn't find a way...

[_honorentheos]

Harmony, you realise this is going to upset members who have paid tithing so that you can have a retirement plan whilst they are perhaps struggling with theirs. Perhaps you are willing to offer them cash back in recompense?

I think you misread her OP.

[_Tchild]

Since I am newly retired, and in doing so, found out I have a pension to fund my retirement (which was a huge and very pleasant surprise), I have a question about CES employees.

Do CES employees (specifically BYU professors) have a pension? (the old fashioned kind that is built on years of service, not a 401K even with matching funds).

And if they leave the church (either by resignation or excommunication), is their pension/retirement fund dissolved?

Pensions and other retirement plans are based on established regulations/ laws; ERISA. They cannot be arbitrarily withdrawn. Although church leaders would probably be thrilled with the ability to totally financially impoverish an apostate.