Ministerial Pension Plan (MPP)
Annuity Conversion Rate

The annuity conversion rate is the implied investment rate of return that the General Board must attain on the investment assets supporting your monthly benefit payment. The General Board considers numerous factors and gathers various sources of current data to ascertain the rate rather than using a single index or formula. These sources include, but are not limited to, interest rates on U.S. Government-issued debt, interest rates for highly rated corporate bonds that comprise the Citigroup Pension Discount Curve, annuity rates set by the Pension Benefit Guarantee Corporation, and market annuity rates quoted by insurance companies that sell annuity products. The General Board also considers its long-term expected rate of return for the assets supporting the MPP annuities.

The General Board will publish the new annuity conversion rate on this Web page by the 15th calendar day of the month, prior to the month for which the new rate will be effective. As general practice, the General Board continually monitors annuity conversion issues and evaluates alternatives.