wfn.org | Board of Pensions Seeks to Overcome Problem

[PCUSA.NEWS@pcusa.org]

6-May-1997 
97189 
 
           Board of Pensions Seeks to Overcome Problem  
                     Created by Mailing Error 
 
                      by Jerry L. Van Marter 
 
LOUISVILLE, Ky.--Because of a mailing house error, a letter notifying 
members of proposed changes in the benefits plan of the Presbyterian Church 
(U.S.A.) Board of Pensions was not sent to an unspecified number of plan 
members by the required deadline. 
 
     The benefits plan requires that notice of any proposed changes be sent 
to all plan members at least 90 days prior to the General Assembly that 
will be asked to approve them.  The notification letter of changes being 
proposed to the upcoming General Assembly in Syracuse was sent to most 
members March 7, well in advance of the 90-day limit, but the mailing house 
snafu caused some members to be bypassed. 
 
     "This is of grave concern to the Board because we take very seriously 
the General Assembly's role in the oversight of the benefits plan," said 
Board president John Detterick. 
 
     Detterick said the Board considered postponing the proposed changes 
for a year, but decided to go ahead and send them to the Assembly if none 
of the late receivers of the notification object by June 1.  Another letter 
was sent to members April 18, explaining the error and outlining the 
objection process. 
 
     Among the benefits changes being proposed: 
 
    *    increases in the salary continuation, lump sum and children's 
         educational death benefits 
    *    an expansion of the lump sum death benefit eligibility for members 
         without surviving spouses and dependents 
    *    an accelerated benefit payment option for the terminally ill 
    *    an increase in the maximum disability benefit 
    *    a new early retirement option. 
 
     The error does not affect the recommended 6 percent experience 
apportionment increase or amendments to the major medical and optional 
benefits that will also be proposed to the Assembly. 
 
     "We apologize to plan members for this lapse in service and ask for 
their understanding and consent," Detterick said. 

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