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.
There are three main options for TSP withdrawals in retirement. 1. Leave the funds in your TSP. Funds may be left in your TSP until April 1st of the year following the year you turn age 70 Â½, when Required Minimum Distributions (RMDs) must begin. For example: Tim turned 70 Â½ this year. His 2012 year end TSP balance is $100,000 and his first RMD will be $3,650.