Employee Benefits: Lay Employees’ Retirement Plan
The MCC established the lay Employees' Retirement Plan (LERP) in October 1966. This plan was created to provide a retirement program for lay employees of participating parishes and schools. These parishes and schools are associated with or under the control of the Roman Catholic Dioceses of the Ecclesiastical Province of Detroit. The plan currently has over 10,000 active participants and is paying benefits to over 8,600 retirees. The cost of this retirement program is fully funded by the employer. Employees participating in the plan are not required nor permitted to make contributions to the plan.
The LERP is a Defined Benefit Pension Plan and a Church Plan, as described in Section 414(e) of the Internal Revenue Code of 1986.
The purpose of the plan is to provide financial assistance during retirement years. The plan also provides benefits in the event the vested employee becomes disabled or dies prior to retirement.
