Transcription of COMPENSATION GUIDELINES - WELS
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COMPENSATION GUIDELINES - WELS
COMPENSATION GUIDELINES A Guide to Compensating Called Workers Effective July 1, 2022 2 Table of Contents Preface _____ 3 A bible Study on Compensating Called Workers _____ 4 COMPENSATION Plan Components _____ 10 Base Salary _____ 10 Salary Ranges _____ 10 Years of Experience _____ 10 Cost of Living Adjustment (COLA) _____ 10 General Information _____10 The COLA Calculation _____11 Selecting a Cost of Living Data Source _____11 Removing the Housing Component from a Composite Value _____12 Determining the Salary Multiplier from Relative Cost of Living Figures _____13 Education _____ 13 Special Consideration of Early Childhood Ministry Teachers Who Do Not Hold a Bachelor s Degree _____14 Levels of Responsibility_____ 14 General Information _____14 General Responsibility Factors _____14 Responsibility Examples _____15 Calculating the Responsibility Amount _____15 Social Security Reimbursement (SECA Tax) _____ 15 Housing Allowance _____ 15 General Information _____15 Cal
Jul 01, 2021 · A Bible Study on Compensating Called Workers_____ _____ 4 Compensation Plan Components_____ 10 ... (Internal Revenue Code Section 125) _____18 ... plan was needed to address the major concerns that were made apparent through extensive survey and discussions held with synodical areas of ministry, calling bodies, knowledgeable laity and called ...
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