In the July 2011 issue of The Board Bulletin, you’ll find articles about key decisions made by the directors of The Board of Pensions of the Presbyterian Church (U.S.A.) at their June 25 meeting in Philadelphia.

Highlights include:
Rising healthcare costs and declining Medical Plan reserves make it necessary to increase Traditional Program dues in 2012 and 2013. Rates for Affiliated Benefits Program coverage also will rise. Seminary students will see their dues increase as well.

For the same reason and to equitably distribute these increased costs, active Medical Plan member deductibles and fees for physician specialist visits will increase in 2012, and copayment maximums will increase the year after that.

A 2012 financing change to the prescription drug portion of the Medicare Supplement Plan allows the plan to receive larger subsidies from the federal government than in the past, which should help slow the rate of increase in Medicare Supplement dues.

The Board of Pensions reported Balanced Investment Portfolio returns of 6.5% for the five months ended May 31, 2011. The Pension Plan is fully funded.

The directors voted to discontinue the Middle Governing Body Grant Program pilot offered through the Assistance Program. The Assistance Program’s other grant programs are currently adequately funded, and are expected to continue to meet the financial assistance needs of Presbyterian pastors, other church workers, and their families in the future.

If you have pensions related concerns, please let me know.
Sincerely,
Kevin

If you have pensions related concerns, please let me know.
Sincerely,
Kevin