GBOPHB Conducting Pension Plans’ “Funded Status Conference Calls”
For Immediate Release
January 27, 2009
Contact: M. Colette Nies, Managing Director, Communications
(847) 866-4296 or cnies@gbophb.org
Evanston, IL—The General Board of Pension and Health Benefits (General Board) is conducting “Funded Status Conference Calls” to discuss pension plan funding requirements across conferences.
“We are all facing the economic downturn and examining the budgetary impact it is having on our present and future pension obligations,” said General Secretary Barbara Boigegrain. “As members of the Church, we have a strong connection across conferences that works to our advantage—all opinions and viewpoints have value in this discussion.”
With the continuing economic downturn, the General Board wants conferences to discuss openly the funding challenges and gain clarity around their pension plan future liabilities. Boigegrain further noted, “We are providing contribution estimates much earlier than usual. However, considering the markets we have been dealing with, we feel the best available information for discussion purposes is better than no information at all.”
A discussion with members of the General Board’s actuarial and benefits staff will help conferences look ahead and examine what the future might hold for 2011 contributions.
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About the General Board
The General Board of Pension and Health Benefits is a not-for-profit administrative agency of The United Methodist Church, responsible for the general supervision and administration of the retirement, health and welfare benefit plans, programs and funds for more than 74,000 clergy and lay employees of the Church.
The General Board is the largest faith-based pension fund in the United States and ranks among the top 100 pension funds in the country. As a socially responsible investor, the General Board is actively involved in shareholder advocacy, proxy voting, portfolio screening and community investing.
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