PRESS RELEASE General Council on Finance and Administration FOR IMMEDIATE RELEASE August 18, 2023 Contact: Brandy M. Bivens 615-369-2338 email@example.com
GCFA Reports Medical Costs Savings; Board of Directors Approve Employees Benefits for General Agencies, Episcopal Salaries
Nashville, Tennessee – The Board of Directors of the General Council on Finance and Administration (GCFA) met virtually on Friday, August 18, 2023, to discuss and approve several key recommendations related to employee benefits for the General Agencies of The United Methodist Church (GAUMC). The meeting resulted in decisions aimed at enhancing the well-being of employees and optimizing healthcare costs within the organization.
For 2024, the Board approved a minimal increase at 0.6% of the health and welfare plans, resulting in no increase to employee participant’s premiums. The Board also approved a recommendation to bundle dental and vision insurance with the medical plan, resulting in cost savings for both of those benefits. The decrease in medical costs in 2023 from 2022 was a remarkable decrease of 22.2%. This decrease can be attributed to wellness programs effectively implemented by GAUMC, which represents an estimated savings of more than $126,000 on medical claims.
The Board also approved a 5% adjustment to the salary scale for GAUMC employees starting next year. This religious nonprofit market-based adjustment is to the salary scale only and does not automatically create individual salary increases, as salaries of agencies are set by the individual agencies themselves. This increase to the salary scale brings GAUMC closer inline, although still behind, the religious nonprofit market, to accommodate inflation and other economic factors.
The Board also set the amounts for the 2024 Episcopal salaries, which will see a 2% increase in the Jurisdictional and Central Conferences. Episcopal office and housing allowances next year remain the same.
The General Council on Finance and Administration coordinates and administers financial resources, safeguards the legal interests, and rights of the Church, and provides administrative resources to enable the fulfillment of the mission of The United Methodist Church.
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