Pension Fund Board Meeting - Notes
INDIANAPOLIS (Feb. 26, 2016) - During its two-day board meeting, the Board of Directors of Pension Fund of the Christian Church (Disciples of Christ) Inc. received reports from staff regarding investment performance in 2015 and early 2016, reserve levels for each of the financial programs, and market projections for the immediate future. Reports were also received from independent actuaries regarding Pension Plan liabilities and funding requirements in light of new life expectancy tables required of pension plans. In light of market volatility and increased actuarial funding requirements, and in accordance with board approved policies regarding Special Apportionments and Good Experience Credits, directors determined that reserves were not sufficient to enable approval of either Special Apportionment or Good Experience Credits in 2016. However, retirement savings programs and the Pension Plan remain fully funded on an actuarial basis.
Two new Board members began their term of service with the Pension Fund; Camilla Lindsey of Plano, Texas, Vice President and Corporate Capital Markets Manager and Vice President at Wilmington Trust; and Joshua Santana, Attorney in Lexington, Ky.
Directors and staff welcomed the Rev. Dr. Todd A. Adams to the Pension Fund staff as Sr. Vice President and President-elect. Adams will assume the role of president on Sept. 1, 2016, following the retirement of current president, James P. Hamlett.
Pension Fund Directors named former missionary Marjorie Hill a Pension Fund Innkeeper in recognition of her generous support for Ministerial Relief and Assistance programs. A donor is eligible for such recognition based upon a minimum of $100,000 in life time gifts to Pension Fund's endowment program.
Pension Fund of the Christian Church (Disciples of Christ), Inc. provides pension and retirement savings accounts for clergy and lay employees of congregations, regions, general ministries and church-related colleges and seminaries of the Stone-Campbell/Restoration Movement. Pension Fund manages over $2.8 billion in net assets on behalf of those serving in the United States, Canada, Puerto Rico and related international ministries.