Don't mess with my money!

I realize by posting this blog I might offend some and diminish the chances of ever being nominated to any committees with the Louisiana Baptist Convention and Southern Baptist Convention (Wade Burleson lesson). But I am willing to take that risk to communicate the truth to anyone and everyone. I am called to preach the gospel, I am not called to serve on committees or to receive the favor of men.

Here is my story...

I am a 32 year old pastor serving at my first church. God is doing some amazing things in our congregation and community. To God be the glory! Back in 2007 I made a decision to start a retirement account through Guidestone. I had picked up some promotional materials at the Louisiana Baptist Convention at the Guidestone booth back in 2006 and had hung on to the materials. I based my decision to go with Guidestone on the services they provided according to their own brochures. I, like many of you, could have selected other financial services as they are a dime a dozen. But the most appealing feature with Guidestone was the $17.50 per month contribution made by the Louisiana Baptist Convention towards my retirement. This sealed the deal for me. Especially when I looked at a chart showing that would amount to $36,866 by my retirement age. I picked up more materials at the 2007 Louisiana Baptist Convention which confirmed everything. My decision was made.

Meanwhile back at the ranch, decisions were being made by committees to make drastic changes. Due to Guidestone raising the price of the death benefit and disability insurance the decision was made to no longer make the $17.50 monthly contribution. I read an article in the Baptist Message on April 10^th informing me about this already made decision. I have received no notification from Guidestone or the Louisiana Baptist Convention. In other industries this is referred to as the old "BAIT & SWITCH". This is where you are sold something based on a certain deal or feature only to find out that it has been changed. Let me put this in the most simplest terms, what this means for pastors who participate in Guidestone retirement. If you are under 40 years of age this could be a loss of $20,000 towards your retirement. If you are under 50 this could be a loss of nearly $10,000. If you are under 60 this could be a loss of $3,000. As stated earlier for pastors close to my age this is a loss of nearly $40,000. Let me ask you a question, if someone took $3,000 dollars from you without your permission would you be a little upset? Or how about $20,000 or even $40,000? Let's be real, on our salaries if someone took $10 from me without asking I would be upset!

Let me also let you in on a little secret...this is what is referred to in business as the Law of Averages. The chances of you ever receiving the disability insurance is slim to none. And as you are well aware the death benefit decreases dramatically as you age. So in all likelihood your surviving beneficiaries will only receive around $10,000 when the Lord calls you home. So in other words the LBC needed to save money and to save money they cut back the most beneficial benefit---the contribution towards a pastors retirement.

This was a financial decision pure and simple. If you are a pastor and you have Guidestone Insurance you are going to be affected by this decision. Yet sadly the vast majority of pastors I have spoken with are not even aware of this change. So that is the reason I am sending out this e-mail. To communicate the truth. I was told to get my church to pick up the portion that the LBC was contributing. This sound very familiar...the LBC financially supporting something and then taking the money off the table expecting the local churches to pick up the tab, sound familiar???

Will this blog change the current situation, probably not. But the more of us who are informed about what is going on, the more dangerous we are to those who make decisions behind closed doors.