The Cliffs Notes summary is that after this plan is finalized, the name “United Methodist Chruch,” will denote congregations who support the ordination of gay clergy as well as supporting same sex marriage in the church. Traditionalist will form a new denomination under a name yet to be determined, but whatever that name is it will denote Methodist who adhere to the scripture and prohibit the ordination of gay clergy as well as prohibiting same sex marriage in the church.
The breaking news today is that groups representing Traditionalist (who hold strong to scripture prohibiting the ordination of gay clergy and same sex marriage,) met with Progressives (who support gay clergy and same sex marriage in the church) met with Centrist who (are basically are on the fence) and reached an historic agreement today on separation.
The agreement allows for Traditionalist to split from the UMC and form a new denomination. Traditionalist will retain all of their property and assets, they additionally will be given 25 million over four years. Traditionalist will likely for a new denomination under the umbrella of the Wesleyan Covenant Association.
This plan still will need a vote of approval at this years 2020 General Conference.