Financial Matters for Community Ministers

From Ralph Mero, Director, Church Staff Finances, UUA: 
          -- Church Staff Finances page on the UUA website
          -- Money Matters for Community Ministers                                The Rev. Ralph Mero, Director of UUA Church Staff and Finances, has kindly put together a "white paper" on typical and unusual financial issues for Community Ministers.  We appreciate his generous and gracious response to SCM for such a document.  This document covers pension, insurance, housing allowance and other opportunities for Community Ministry clergy.
                                --  Retirement Planning for Community Ministers                         Self-employed UU community ministers have been eligible to participate in the UUA retirement plan on the same terms as parish ministers or MREs since January 1, 2000. These persons are usually community ministers with private practices in pastoral counseling, therapy, or who are performing weddings and other ministerial services.  Community ministers who are employed by other non-UU organizations should use the retirement plans offered by those employers. This is especially true for hospital chaplains or other clergy who work for institutions that tend to have good 401(k) or 403(b) plans already in place.  An alternative would be to save in a regular IRA (Individual Retirement Account).  If at some later date a community minister takes a position with a UU organization, or becomes self-employed and opens an account in the UUA plan, then the assets from his or her IRA or previous retirement savings through employment can be transferred into the UUA plan, making distributions later after retirement exempt from income tax to the extent they are used to maintain a residence.  This provision has been in place for over three years, and a number of our community ministers have taken advantage of it.
                                -- 2003 Retirement Information
                                -- 2003 Clergy Housing Allowance
From UUSCM Members C. Scot Giles, Ralph Mero, and Jeanne Lloyd:
                               --  Liability Issues for Community Ministers                                Community ministers often minister to people and places that are in-between the secular and the religious.  Congregations and community ministers often have questions about financial liability in terms of the community ministry.  This article is a first step toward finding the answers to those questions.  As always, SCM encourages individuals and congregations to seek advice from their own local professional insurance and legal experts.  Another option for liability insurance may be found here.  Other sources may include your professional organizations such as the American Association for Pastoral Counselors.
                               --  Options for Health Insurance