- Dec 17, 2018
- 2
- 2
- 63
- Country
- United States
- Gender
- Female
- Faith
- Baptist
- Marital Status
- Married
For many years we have been paying our pastors and staff too much. (based on demographics, size of church, etc). This was discovered by our personnel and finance committee after research when some deacon families left the church over not enough funds being allotted to missions. 75% of our budget is being spent on salaries, benefits, and buildings.
Clearly we need to tighten up and do a better job. This is a difficult process, to say the least. Everything has had no accountability, and no leadership for too long, and now we are suffering. It is heartbreaking and distracting from the great commission.
Now it was discovered our Pastors and staff have been receiving a 2 to 1 match into their 401K accounts. Meaning they put in a dollar, the church matches it with $2. Even part-time workers had a 401K. This is way out of line.
We can't even tell who signed off on this or how long this has been happening, it's been going on for about 20 years!
So my question is: Where can I research church 401K's to see how other churches structure theirs? What is reasonable?
Clearly we need to tighten up and do a better job. This is a difficult process, to say the least. Everything has had no accountability, and no leadership for too long, and now we are suffering. It is heartbreaking and distracting from the great commission.
Now it was discovered our Pastors and staff have been receiving a 2 to 1 match into their 401K accounts. Meaning they put in a dollar, the church matches it with $2. Even part-time workers had a 401K. This is way out of line.
We can't even tell who signed off on this or how long this has been happening, it's been going on for about 20 years!
So my question is: Where can I research church 401K's to see how other churches structure theirs? What is reasonable?