I hope that you and your loved ones are enjoying the start of the fall season, remaining well and safe.
When you think about what the Pension Boards does, the first thought that may come to mind may be our 106-year history as a provider of benefits for employees of the UCC and its predecessor bodies. That is certainly our core responsibility – to help those who serve the church achieve greater economic security in their working years and in retirement with pension, health, life insurance, disability, and supplementation programs.
Our mission statement affirms our call to serve “from the intersection of faith and finance.” We are committed to faithful stewardship of the financial resources you entrust to us. But our work at the intersection of faith and finance also means that we are committed to helping sustain strong leadership for the church in the 21st century. One of the ways we strengthen ministry is by helping ease the financial stresses of authorized UCC clergy.
The Ministers’ Financial Vitality Initiative, launched in 2017 with a $1 million grant from the Lilly Endowment, is designed to increase and improve financial wellness among UCC authorized ministers. It consists of two programs:
Thanks to an additional $1 million expansion grant received in late 2019 from Lilly, Program One will expand from 30 to 60 ministers in each cohort, starting with the next round of participants, who will begin their work in January 2021. Any authorized UCC minister serving in a ministry setting (local church, chaplaincy, or other specialized ministry) may apply.
The application deadline for Program One is October 15. We encourage you to apply, if you are eligible, or to share this information with someone you know who may be interested in applying. Click here to begin your application.
If you are a member with an accumulation balance that is invested all or in part in the Target Annuitization Date (TAD) 2020 Fund, you will have received communications from the Pension Boards announcing the closing of that Fund on December 31.
Please remember that you must take action to either annuitize your account no later than October 31, 2020, or reallocate the assets in your TAD Fund 2020 accumulation account to another investment mix of your choosing no later than November 30, 2020.
You may log in to your member account on the Pension Boards’ website, and make your reallocation online, or you may speak with Member Services at 1.800.642.6543. Please read the article directly below for more information.
Stay well, and be safe.
Brian R. Bodager
The Target Annuitization Date (TAD) Fund 2020 will close in December of this year. In anticipation of the closing of the TAD Fund 2020, you will need to select one of the two options below.
Any balance remaining in your TAD Fund 2020 on December 31 will automatically be moved to the Stable Value Fund.
If you have any questions, or need help, please reach out to our Member Services team at 1.800.642.6543.
Generations Financial Resources, Inc., is a lending corporation designed to help alleviate the crushing burden of clergy indebtedness in the UCC.
Working in coordination with the Minister’s Financial Vitality Initiative it combines personal finance education, needs-based grants to reduce debt levels, and most significantly, low-interest rate refinancing to substantially reduce the rates our clergy are paying on their educational debt.
As we prepare for the transition to the new Plan, Humana Group Medicare Customer Care is available to help. You may call Humana at 1.866.733.1872, Monday through Friday, 8:00 a.m.-9:00 p.m. (Eastern Time) with questions you may have about your coverage. When calling, please indicate that you are with the Pension Boards-UCC.
Look for more information from the Pension Boards and Humana by email and mail later this month.
This week, Bank of America Corporation (BAC) announced a $2 billion bond deal called “Equality Progress Sustainability Bond” with funding that will help fight against income and social inequality in America’s Black and Hispanic communities.
The Pension Boards has invested $6.6 million on behalf of its members. Read more here.
“It just took off as if there was jet fuel.” So said Sheriff Brett Meyers of Whitman County, Washington concerning the fire that mostly destroyed the town of Malden.
“It just took off as if there was jet fuel.” So said Sheriff Brett Meyers of Whitman County, Washington concerning the fire that mostly destroyed the town of Malden. At the time of this writing, there are more than 100 active large fires burning in western states that have consumed approximately 6.6 million acres. Dozens of persons have died as a result, thousands of homes and buildings have been destroyed, and numerous communities are experiencing the worst air quality on the planet.
Last week, Hurricane Sally hit the Gulf Coast less than three weeks after Hurricane Laura struck, the latter being the most powerful storm to strike Louisiana in the last 150 years. We are only halfway through the hurricane season and already there have been 23 named storms, putting this on track as the worst Atlantic hurricane season on record.
Scientists agree that climate change is a major contributing factor to the increased frequency and intensity of both wildfires and hurricanes. Other impacts of rising temperatures include melting glaciers and sea ice, rising sea levels, shifting plant and animal habitats, longer and more intense heat waves, and increases in both droughts and floods. How is the Pension Boards responding?
As the Pension Boards transitions to a paperless environment and adapts to working remotely, we are converting to an online process for UCC churches and employers to update their employees’ salaries and pension contribution amounts. We will no longer send out the annual Salary Report to employers by mail in October.
Now, you may sign into your account on the Employer Portal and once logged in, select Salary Report/Update from the left-hand side of the page to make changes as soon as they occur. This will ensure that changes are timely, and that your monthly invoices will reflect the updated information as changes occur.
If you need a paper form, you may download and print a Salary Report Form from the Pension Boards website.
Should you have any questions, please reach out to our Member Services team at 1.800.642.6543 for assistance.
Note: Your account, including any outstanding balances, and employee salary information, must be up-to-date before you use online bill payment for the first time.
Online payment is the New Standard for the Pension Boards. Please transition your monthly payment to our online portals today! If you are not already using the portals, it’s quick and easy to get started and transactions are secure. Click here for detailed instructions to set up your account.
PLEASE NOTE: The online bill payment sites will be down for routine maintenance from Sunday, October 4 at 6:00 p.m. through Tuesday, October 6 at noon. The November monthly invoices will be available when the portal is back up on October 6.
Beginning January 1, 2021, the Pension Boards' policy will be to accept only current or future dates on all benefit forms submitted to effect any benefit enrollment or change for our members. Retroactive effective dates will no longer be accepted. Look for additional communications regarding this change in coming weeks.
Our full Member Services staff team is available as before to take your calls and answer any questions you may have. They may be reached at 1.800.642.6543 as well as on the online chat function on our website, www.pbucc.org.