wfn.org | Assembly approves pension board's recommendations for increase

[PCUSA NEWS <PCUSA.NEWS@ecunet.org>]

Note #6050 from PCUSA NEWS to PRESBYNEWS:

28-June-2000
GA00099

	Assembly approves pension board's recommendations for increase

	by Evan Silverstein

LONG BEACH, June 28 – The 212th General Assembly of the Presbyterian Church
(U.S.A.)  unanimously approved a committee's recommendation making way for
participants in the church's pension plan to receive a nine percent
experience apportionment increase.

	Wednesday's approval of the recommendation of the Pensions and Benefits
Committee means a nine percent increase in the pensions for retired plan
members and in accrued pension credits for active, vested inactive and
disabled members who received such benefits from the Board of Pensions (BOP)
as of Dec. 31, 1999.

A nine percent increase in retirement and survivor's pension benefits for
members and eligible survivors was also approved. An experience
apportionment of 4 percent was approved for persons receiving disability
benefits. The increases will take effect August 1.

	An experience apportionment of 10 percent was granted by last year's 211th
General Assembly in Fort Worth, Texas.

	In other action, the General Assembly:

	* referred an overture from the Presbytery of Minnesota Valleys to the
Board of Pensions on requiring Medicare supplemental benefits to plan
participants without regard to immediate prior participation in the benefits
plan. The BOP will study the matter and report back to the 213th General
Assembly in 2001.

	* referred an overture from the Presbytery of Whitewater Valley to the BOP
to compare the policies and practices of BOP to other denominational and
similar non-profit institutions. The BOP will study the matter and report
back to the 213th General Assembly in 2001.

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