The Board of Pensions works within the context of its fiduciary responsibilities and General Assembly guidance. At the same time, it is integral to supporting the Church of today and building the Church of tomorrow as it serves installed pastors, other teaching elders, and other employees of congregations and Presbyterian-affiliated employers.
Annual business planning enables the Board to preserve its strong foundation and ensure operational effectiveness by maintaining the confidence of its constituencies, managing risk, protecting the financial health of the Benefits Plan and Assistance Program, and ensuring organizational effectiveness.
During annual business planning, related initiatives for the year ahead are grouped together. The Executive Team assigns a weight to each grouping, based on significance and in conjunction with the Executive Committee of the Board of Directors. Then, the initiatives, along with the administrative and capital expense budgets, are submitted for approval by the full Board of Directors.
In 2014, the Board moved to realign its mission with the Changing Church, which includes a growing number of teaching elders in less traditional roles and settings. A 2015-2016 business strategy was created and initiatives developed, for 2015 and then 2016, toward achieving realignment.
Input was gathered in 2015 from throughout the Church on the principles and values of the Benefits Plan to gain an understanding of employer and member needs and experiences. As the Board moved from 2015 into 2016, it entered a transformational process, envisioning a way to serve more, serve better, and serve the Church. As part of that transformation, the Benefits Plan was redesigned for 2017.
The business strategy for 2017-2018 is designed to ensure successful implementation of the redesigned plan and initiate growth in plan membership. Additionally, it reflects an expansion of the Board’s mission, particularly in the area of education, to encompass a ministry of wholeness.