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.
Q. My wife works for the federal government and in the next two years will retire at 60 with 27 years of service. We have been trying to max out her TSP and catch up contributions. We have made deposits per your advice of $673 and $211 for regular contribution and catch-up. plan on putting in the maximum amount for contributions ($17,500) and catch-up contributions ($5,500). Thrift Savings Plan form instructions (TSP-1, TSP-U-1-C) require a whole dollar amount for contributions per paycheck, and we get paid every two weeks.