Board of Pensions grants President Frank Spencer travel leave

February 11, 2020

Chair of Board of Directors cites leader’s ‘transformative work.’

The Reverend Frank Clark Spencer, President of The Board of Pensions of the Presbyterian Church (U.S.A.), has been granted a travel leave for March 11-May 8, 2020, announced the Reverend Dr. Fairfax F. Fair, Chair of the agency’s Board of Directors.

“In light of the transformative work that Frank has led over six years — the growth in Benefits Plan membership, the resurfacing of bedrock values — the Executive Committee is pleased to provide this time for Frank,” Dr. Fair said.

Rev. Spencer will combine regularly scheduled vacation time with matching leave time granted by the Board. In his absence, day-to-day operations at the Board will be overseen jointly by Susan Reimann, Chief Operating Officer, and Michael F. Fallon Jr., Chief Financial Officer.

“I’m appreciative of the Board for providing this opportunity for renewal,” Rev. Spencer said. “Before my leave, I will attend the 2020 National Gathering of NEXT Church, set for March 2-4, and our Board of Directors’ spring meeting, March 5-7 in Philadelphia. All of our business for the 224th General Assembly (2020) will be acted upon at that meeting.”

Under Rev. Spencer, the Board of Pensions has undertaken a transformative process to serve more, serve better, and serve the Church. Membership in the Benefits Plan of the PC(USA) had been declining for decades when the 221st General Assembly (2014) confirmed him as President. Since then, the Board has redesigned the plan to enable greater participation and continues to expand the benefits available to employers to offer their employees. As a result, the number of active members has increased over 25 percent.

Before becoming President, Rev. Spencer was a member of the agency’s Board of Directors, serving on the Investment and Audit committees. He is the first minister of the Word and Sacrament to lead the Board of Pensions since the Reverend J. Phillips Noble served as Co-President with Arthur M. Ryan in 1987 and 1988. Rev. Spencer is an experienced business executive with Presbyterian roots that run generations deep. He earned an MBA at Harvard University and the M.Div. at Union Presbyterian Seminary, Charlotte, where he is currently pursuing a D.Min.

“I am so grateful to Fairfax and the rest of the Executive Committee for giving me this time,” Rev. Spencer said. “Our work at the Board is far from done, and I look forward to returning refreshed to meet the challenges ahead. I see us introducing new benefits and seeking ways to further reduce costs, continuing to support new calls to ministry and deepening partnerships with communities of color.”

For further information, contact Ms. Reimann, Executive Vice President and Chief Operating Officer.