Each year, the Board of Pensions releases the Annual Review and accompanying Financial Report. These documents — which provide an overview of the work carried out by the Board the previous year — report on financial results, management considerations, and accomplishments related to the Benefits Plan and Assistance Program.
In the 2017 Annual Review, the Board reported on a successful, transformative year that included the launch of a redesigned Benefits Plan on January 1, 2017. The redesigned plan balances employer and employee needs while upholding the Church's commitment to its ministers. As a result, there were 1.5 percent more active plan members at year-end 2017 than at year-end 2016, and a 19 percent increase in the number of members enrolling for benefits effective January 1, 2018.
Additional accomplishments highlighted in the 2017 Annual Review include the following:
- The Board of Pensions Balanced Investment Portfolio returned 17 percent in 2017, enabling the Board of Directors of the Board of Pensions to grant an experience apportionment for the Pension Plan for the sixth consecutive year.
- Sixty-seven percent of eligible members registered to participate in the Board's well-being initiative, Call to Health.
- There was a 4.31 percent increase in participants and a 15.85 percent increase in assets in the Retirement Savings Plan of the Presbyterian Church (U.S.A.) from year-end 2016 to year-end 2017.
- As part of a continuing effort to move toward efficient, 24-hour service, the Board added 11 online transactions to Benefits Connect, its secure benefits website.
- In partnership with the Office of the General Assembly, the Board established the Mid Council Leaders Gathering, a three-day gathering that drew more than 300 elected and volunteer leaders of mid councils from throughout the country.
- The Assistance Program distributed 1,215 grants, for a total of $5.1 million.
Read the 2017 Annual Review to learn more about the Board's work last year.