Performance & financials

The Board of Pensions reports annually on its investment performance and financials, as well as its work.

Audited Financial Statement

The Board of Pensions annually presents combined financial statements and supplemental schedules for the three previous years. Independent auditors audit the combined financial statements and report on their audit in this financial statement.

2023 Audited Financial Statement

Investment Review

General Assembly guidelines

While adhering to its fiduciary duty to its members, the Board currently follows all General Assembly guidelines concerning socially screened investments.

The annual Investment Review examines the investment results of the Balanced Investment Portfolio for the previous year. The portfolio is the investment fund for the Defined Benefit Pension Plan, Financial Protection Programs, Endowment Fund, and Assistance Program assets.

The investment objective of the portfolio is to maximize the total return on investments while maintaining prudent levels of risk throughout diverse economic and market conditions. The long-term goal is to achieve a total return on assets that enables the Board to maintain and increase pension and death and disability benefits.

The Board retains investment managers for each asset class in the portfolio, which is broadly diversified. The asset classes include U.S. and international stocks, bonds, and partnerships investing in private equity, natural resources, and other investments.

2022 Investment Review 

Policy on Prohibited Securities

The Board of Pensions of the Presbyterian Church (U.S.A.) faithfully invests the resources under its financial stewardship. It acts on the prohibition of securities as approved by General Assembly and implemented by Mission Responsibility Through Investment (MRTI).

Policy on Prohibited Securities