Board Approves Good Experience Credits at Final Meeting of 2020
INDIANAPOLIS - The Board of Directors of Pension Fund of the Christian Church met virtually November 13-15, 2020. During the meeting, the board received staff updates on the Strategic Plan and Business Plan, reviewed our 2020 Enterprise Risk Management work, and celebrated how prepared the team was for continuing operations during the pandemic.
“The board has been very impressed with the organization’s level of readiness and ability to continue serving our members while keeping our employees safe and healthy,” shared Board Chair, Peggy Brittan.
The board approved Good Experience Credits (GECs) for the Tax-Deferred Retirement Account (1%) and the Benefit Accumulation Account (2.5%). GECs are awarded based on each product’s September 30 plan liabilities versus plan assets and based on the average daily balances in member accounts. GECs will post to accounts before year-end.
The four committees of the board completed important work to continue our legacy of providing members with a strong, smart, secure retirement. Among the committee highlights: electing new and continuing board members, expanding eligible beneficiaries for Pension Plan, passing plan amendments for compliance with the CARES Act and SECURE Act, and approving the 2021 budgets.
“We are fortunate at Pension Fund to have a dedicated board of directors, who give of their time and expertise to help guide our decision-making and offer wisdom into how we manage the assets of our members and the programs we are called to steward on behalf of the church,” said the Rev. Dr. Todd A. Adams, Pension Fund President and CEO.
The board and senior staff honored outgoing Board Chair, Peggy Brittan (Texas), for her two years of service in her leadership role. Josh Santana (Kentucky) was named new Board Chair with Randy Clayton (Kansas) named as Vice-Chair. New to the board are Sam Colson (Alabama), Cynthia Newman (Indiana), the Rev. Denise Bell (Georgia), and David Burch (California). Board members completing their service include Charlene Butz (Iowa), Brenda Cline (Texas), the Rev. Bill Lee (Virginia), and the Rev. Janet Long (Ohio).
The board celebrated Pension Fund’s 125 years of serving those who serve in the Stone-Campbell (Restoration) Movement – helping them Bridge the Unexpected in challenging times.