Pension Fund Board Meets in Dallas
Indianapolis - Pension Fund’s Board of Directors met April 26-28, 2019 in Dallas. The meeting featured a panel of local church pastors and a regional minister speaking about the role of Pension Fund in supporting those who serve.
The Board’s Membership and Benefits Committee reviewed guidelines for new Ministerial Relief and Assistance programs (MRA). Among these new or expanded programs are Parental Leave, Debt Refinancing for Excellence in Ministry participants, New Church Pastor Gift Pension, Salary Support for Pastors following a Natural Disaster (a partnership with Week of Compassion), and a Geographic pay differential for qualified retirees receiving retirement support gifts. These new programs are in response to our research and the changing needs of ministers.
“As we approach our 125th Anniversary, we are excited to expand the reach of Ministerial Relief and Assistance programs. Our logo includes the Alpha and Omega – representing the beginning and the end. As we live out our logo, we want to support clergy from the moment they begin their education for ministry until their last beneficiary takes their final breath,” shared Rev. Dr. Todd A. Adams, Pension Fund’s President & CEO. In addition to these programs, Pension Fund is sponsoring The Gathering – A Retreat for Clergy, Sep. 8-10, 2020 in New Orleans. Upcoming registration information, as well as information about our new MRA programs, will be available on our website and at General Assembly.
In other work, the Board met with its external and internal auditors and approved the valuation report from Pension Fund’s actuaries, Willis Towers Watson. The Board did not award a Special Apportionment for 2019 based on Dec. 31, 2018 funding levels and the guidelines. The Board will consider Good Experience Credits on interest-bearing accounts (based on Sept. 30, 2019 funding levels and current market conditions) at its Nov. 2019 Board meeting in Indianapolis.