wfn.org | Pension Board Makes Record Special Distribution

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"UNITED METHODIST DAILY NEWS 97" by SUSAN PEEK on April 15, 1997 at 14:24
Eastern, about DAILY NEWS RELEASES FROM UNITED METHODIST NEWS SERVICE (432
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Note 431 by UMNS on Nov. 4, 1997 at 16:18 Eastern (1842 characters).

CONTACT:	Ralph E. Baker						 619(10-71B){431}
		Nashville, Tenn.  (615) 742-5470			Nov. 4, 1997 

Board makes record-breaking special distribution
to United Methodist retirement accounts

by United Methodist News Service

	The United Methodist Board of Pension and Health Benefits voted its
highest-ever special distribution to clergy and church lay employees’ pension
accounts.
	During a telephone conference call Oct. 31, the board’s directors approved a
special distribution of 12 percent, to be paid on individual participant
balances in its Diversified Investment Fund.  
	The total amount to be credited for 1997 (including the normal base credit of
6 percent, the special credit and compounding of both amounts) is 19.28
percent.  The largest distributions prior to this one were 18 percent in both
1986 and 1989.
Gayle Whitson-Schmidt, treasurer and chief financial officer, said, "The real
importance of this action is the additional distribution of $870 million into
the accounts of our participants."  
The board’s mandate "is to focus on the well-being of the participants.
Striving to maximize return on investments within church-approved guidelines
is one way we are able to do that," she said.
	Special distributions are based on the performance of the board’s investment
portfolio and the outlook for financial markets. The strong performance of the
agency’s investment managers and the strength of the U.S. stock market are
cited as factors contributing to the high rate of return on board-managed
assets during 1997.
	The Diversified Investment Fund is the primary investment vehicle offered by
the board for the church’s retirement program. Assets in the funds managed by
the Board of Pension and Health Benefits currently total approximately $9
billion.
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