The Board of Pensions is governed by an independent Board of Directors (nominated by the General Assembly Nominating Committee and elected by the General Assembly) and the Executive Team. The latter oversees business strategy and day-to-day operations at the Board’s headquarters.
The Board and its Directors and officers have a duty of loyalty, care, and obedience to the corporation. They are plan fiduciaries, and must make decisions solely and exclusively for the benefit of Benefits Plan members and their families, with high legal standards of care and prudence.
Board of Directors
The Board of Directors governs the Board of Pensions through eight committees. The Directors oversee the investment of plan funds; management and administration of pension, medical, and death and disability benefits; and operation of the Assistance Program. Under the Board of Pensions bylaws, the Board of Directors comprises 27 to 36 members.
Directors reflect the diversity of the PC(USA) community. No more than 40 percent of them may be ministers of the Word and Sacrament, to avoid any appearance of undue influence by individuals who may benefit personally from plan decisions. The remaining Directors must be, throughout their terms, lay members of the Church.
The Board’s senior management composes the Executive Team. The team is charged with
- implementing the Board’s mission;
- directing Board activities;
- leading teams to develop short- and long-range plans;
- ensuring that the principles of the mission are upheld.
Commitment to Ethical Conduct
The Board of Pensions Code of Ethics and Business Conduct Guidelines and Conflicts of Interest Policy for Directors and Senior Managers detail our commitment to maintaining the highest business ethics and standards. The principles in these documents serve to guide our everyday decisions so that we comply with the law and conduct our work ethically and with integrity.