Pastor salaries, as are teacher salaries, are not keeping up with others with professional degrees, with a minimum of a Bachelorâs degree. According to the National Association of Church Business Administration, the average pastor in 2012 received an annual salary of $28,000.
Several people have e-mailed us recently for information on average retirement plan balances. Those balances are often released by many of the larger plan providers.and we've included those studies on our website. The federal government equivalent of the 401k, the Thrift Savings Plan (TSP) recently released some balances: As of June 30, the average TSP account balance was $61,221 for participants covered by FERS, a spokesman said. The average account balance was $52,356 for employees covered by the older CSRS.
This calculator assumes that your salary will continue to increase at this rate until you retire. If you have made -- or will make -- the maximum amount of regular employee contributions for the year ($16,500 in 2010) and are 50 years of age or older, you may also make catch-up contributions to your TSP account. Catch-up contributions have their own annual limit, which is $5,500 for 2010. Members of the Uniformed Services may not make catch-up contributions from pay that is tax-exempt; FERS employees do not receive Agency Matching Contributions on catch-up contributions..