wfn.org | Committee Hears Report of Board of Pensions

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17-June-1997 
GA97053 
 
             Committee Hears Report of Board of Pensions 
 
                        by Emett Barfield 
 
SYRACUSE--The 40 members of the General Assembly's Committee on the Board 
of Pensions heard a very detailed and encouraging report from 
representatives of the board. 
 
    Beginning with a comprehensive overview of the work of  the board, the 
members were told that the reserves at the end of April, 1997, totaled 4.3 
billion dollars. As of June 1, 1997, the reserve funds had grown to 4.6 
billion dollars. Based on the experience of the board over the past year, 
the members were asked to make a number of  recommendations  to the General 
Assembly. Among them are: 
 
    -  a six percent good experience credit in retirement, disability, and 
       survivor's pension benefits; 
    -  an increase in the minimum Salary Continuation Death Benefit from 
       $2,000 to $5,000; 
    -  an increase in the maximum salary basis for the active members from 
       $40,000 to $50,000 for the Lump Sum Death Benefit; and 
    -  an increase in the maximum salary basis for disability from $50,000 
       to $60,000. 
 
    The committee also was called upon to deal with two overtures and a 
commissioner's resolution. The first overture 97-1 originated in St. 
Augustine Presbytery and dealt with the issue of vacancy dues, i.e. dues 
payments by a church while it is without a minister or associate pastor. 
The committee moderator, Elder James Love, a commissioner from St. 
Augustine Presbytery recused himself and asked Vice Moderator Sarah Ramos 
to take the chair. After a thorough discussion of the need for the income 
generated by the vacancy dues, the committee by a vote of 30 to 7 elected 
to report their disapproval of the overture to the General Assembly. 
 
    Overture 97:55 requests the Board of Pensions to increase the ceiling 
on mental health coverage to make it equivalent to benefits in physical 
health coverage.  It was answered by the committee with the following: 
 
    1.  Support the Board of Pensions move to parity of coverage 
        as required by the Mental Health Parity Act. 
 
    2.  Urge them to develop changes to the plan with continued 
        involvement of the Presbyterian Serious Mental Illness Network. 
 
    3.  Report changes that have achieved parity to the 210th General 
        Assembly. 
 
    The Commissioners Resolution 43.0108-0126 Relief of Conscience was 
disapproved in a vote of 35 to 5 based on the determination of the 
committee after lengthy discussion that the present coverage of abortion 
procedures by the Board of Pensions is consistent with General Assembly 
policy concerning abortion making any change unnecessary. 
 
    The committee concluded its work with a focus group on Middle Governing 
Bodies. 

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