Preparations

As spring approaches, many people anticipate planting flowers or gardens. I tend to look forward to mowing and caring for my yard again. It’s not that I enjoy the work so much as it is the pride I take in the end result—a lush green yard for our family to enjoy. I also find mowing is a good time to think and pray as I go about my task in solitude, wearing a noise-canceling headset. Still others, like my beautiful bride, turn their thoughts to spring cleaning, and I faithfully execute her instructions without too much grumbling because I know deep down it’s what we should do to keep our house in order.

Similarly, spring is also a good time to review our financial health and plans for retirement. Like a garden, the resources available to us in retirement require preparation and the regular application of care necessary for them to grow.

Good financial health is a cornerstone for sustainable growth and meaningful ministry. As stewards of the Gospel mission, the management of finances within a church holds profound significance beyond mere numbers. It embodies a commitment to responsible stewardship and empowerment for the greater good. That empowerment begins with caring for the financial health of our pastors.

The Manual of the Church of the Nazarene is clear in stating, “the payment of the pastor’s salary in full shall be considered a moral obligation by the church.”1 Included within that moral obligation is the admonition to the local church board “to determine the amount of remuneration and benefits, including retirement benefits, the pastor shall receive, and to review them at least once a year.”2

Over the past year, we have reported on the growing financial crisis within our church community due to the lack of retirement readiness among many of our Nazarene clergy. Crisis is not a word I use lightly, but this issue has been the elephant in the room that demands our attention—and far too many have ignored it. This concern was the inspiration for the design and implementation of our new 403(b) Ministers Match, which became effective January 1, 2024, with the closure of the Annual Pension Supplement (APS) system.

Every Nazarene congregation should share a sense of responsibility to nurture the financial wellness of their pastor.

Every Nazarene congregation should share a sense of responsibility to nurture the financial wellness of their pastor. This includes doing the right thing today to set them up for a sound retirement in the future. Our new match system requires “local effort,” which consist of two parts. First, is the foundational support of the NBUSA Fund through the payment of regular budget allocations. This is our primary source of funding to support the pension trust for retired ministers, provide complimentary life and disability insurance to pastors, distribute benevolence in times of need, develop informational resources and programs, and contribute to the retirement accounts of active ministers. The second part of local effort requires direct contributions to a pastor’s Nazarene 403(b) Retirement Savings Plan account by either the pastor, local church, or both. NBUSA will match the total of these direct contributions.

Unless the Lord returns, retirement is a coming reality for all of us whether or not we choose to plan for it, and this planning involves two core issues— time and money. The less we have of one, the more we will need of the other if we want to retire when we’d like with adequate funding.

If you’re an active Nazarene minister, I trust you are already aware of the Ministers Match and the significant opportunity it affords you to create a financially healthy retirement. If not, please take this opportunity to learn more at nbusa.org/ministers-match-resources or by contacting us at 888.888.4656 or benefits@nazarene.org.

If you are a church treasurer or member of a local church board, I encourage you to find out more about this new program so you can determine the most appropriate way to support your pastor in planning for retirement. Working together, I believe we can solve this crisis and set every Nazarene minister on the path to retire well.

Kevin P. Gilmore serves as executive director of Nazarene Benefits USA for the Church of the Nazarene.

1 Calling of a Pastor, Section H, Paragraph 115.4

2 The Local Church Board, Section K, Paragraph 129.8