Text of: 1176-NonDis-$
The Committee recommends concurrence as amended as follows:
Effective January 1, 2001, amend section 4.01c. Of the Ministerial Pension Plan, to read:
For participants who do not receive a contribution pursuant to Section 4.01j(4), serving full-time appointment, eligible to be enrolled prior to January 1, 2001 and who are receiving Compensation at least equivalent to 60% of the applicable Conference Average Compensation or 60% of the Denominational Average Compensation, whichever is less, in the Puerto Rico Methodist Church, in addition to the contribution required in Section 4.01a, the Puerto Rico Methodist Church shall contribute a build-up to the Account of such Participants in an amount equal to the Denominational Average Compensation, multiplied by the contribution rate of the Puerto Rico Methodist Church, less the required contribution in accordance with section 4.01a above.
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