Tuesday, October 14, 2014

at Throckmorton: No Name raises a question about pension expenses at MH


http://www.patheos.com/blogs/warrenthrockmorton/2014/10/14/why-did-mars-hill-tacoma-and-everett-wait-until-2014-to-thank-mars-hill-global/#comment-1635858959
 
Totally off topic, but anyone notice that 'pension expense' almost doubled from FY2012 to FY2013. The only reasonable explanation would be large lump sum contributions for the higher paid staff or the staff participation doubled. "Pension expense for the years ended June 30, 2013 and 2012, was $450,368 and $240,608, respectively."

https://marshill.com/files/2014/03/10/MHC_FY13_Public_Disclosure_Package_2_.pdf

1 comment:

Heartbroken said...

I'm more surprised that there is a pension. Pensions seem to be losing favor to 401k funds. While I think any kind of retirement plan is awesome in a church setting (because it is rare), I will unequivocally change my mind if it is only limited to the executive staff, whose rumored extravagant salaries should make them responsible for their own retirement planning.