Pension Fund Board Forgoes Special Apportionment and Good Experience Credit

03/18/2009

The Board of Directors of the Pension Fund of the Christian Church elected not to approve a Special Apportionment for Pension Plan accounts or Good Experience Credits for Tax Deferred Retirement and Benefit Accumulation accounts at its regular meeting in Indianapolis, Feb. 25 - 27.

The Board of Directors of the Pension Fund of the Christian Church elected not to approve a Special Apportionment for Pension Plan accounts or Good Experience Credits for Tax Deferred Retirement and Benefit Accumulation accounts at its regular meeting in Indianapolis, Feb. 25 - 27. Citing negative returns in 2008, Richard Cohee, Senior Vice President, Treasurer and Chief Financial Officer, reported to the Board that policies governing such decisions precluded awarding Special Apportionment or Good Experience Credits at this time.

Consistent with the Pension Fund's stated core values of "trust, security and compassion," directors affirmed the decision to make no change in monthly pensions or pension credits as a result of the current downturn. Tax Deferred Retirement and Benefit Accumulation Accounts remain fully valued and continue to earn a base rate of 4% through June 30. A decision regarding the base rate after June 30 will be made by the directors at their regular June meeting. To read more, visit:
www.disciples.org/Portals/0/PDF/DNS/2009/20090311-PensionFund.pdf