A Message from the Chair

A Message from the Chair is published after each regular meeting of The Church Pension Fund (CPF) Board of Trustees. It reflects actions taken by the CPF Board that impact the products and services administered by CPF, as well as other highlights of the meeting.

Summer 2026

Dear Friends:

The Church Pension Fund Board of Trustees (CPF Board) held its annual off-site meeting earlier this month in Vermont, where The Church Insurance Companies (CIC) are headquartered. It was a packed agenda, but we also made time for meaningful conversation, reflection, and fellowship.

We discussed trends in the healthcare industry to get a better understanding of what is driving cost increases industrywide and what The Episcopal Church Medical Trust (Medical Trust) is doing to put downward pressure on this trend for the Church. Higher premiums are inevitable, given recent large claims experience, the popularity of specialty drugs like GLP-1s for weight loss, and new regulations that continue to push more costs to medical insurers. However, the team at the Medical Trust is actively exploring changes it can make to plan array and to pharmaceutical coverage to dampen these increases. The current estimate is that most participating institutions will see low double-digit increases in healthcare costs, in line with projected industry increases, but still higher than many would like. It is a challenging time for healthcare, and we are confident that the Medical Trust is doing its best to manage the rising cost of one of CPG’s most important benefits.

We learned that after careful consideration and a competitive, thoughtful bidding process, the Medical Trust will continue to offer United Healthcare’s (UHC) Group Medicare Advantage (GMA) plans to retirees. We appreciated the thoroughness of CPG’s process, and we were aligned with the decision after hearing that UHC offers more competitive pricing, provider continuity, enhanced benefits, and better support tools. We were also comforted to hear UHC’s specific plans to address issues that have arisen in the past. CPG will be sharing more details in the coming months.

The CPF Board approved a 2027 subsidy¹ increase for members in UHC GMA health plans. Depending on UnitedHealthcare’s final rates and design changes, the full 2027 monthly subsidy for individuals in the GMA Premium Plan is estimated to increase by 9.8% ($53), up from $540 to $593, while the full 2027 monthly subsidy for individuals in the GMA Comprehensive Plan is estimated to increase by 2.2% ($10), up from $449 to $459.

Midweek, Christopher Rourke, General Manager and Senior Vice President of CIC, and other members of CIC’s leadership team served as our hosts at CIC's Bennington office. They introduced us to a talented and compassionate team of underwriters, claims examiners, relationship managers, client service representatives, and others who work tirelessly behind the scenes. We were particularly excited to meet Heather Crockett, Director of Casualty Claims and a recent recipient of CPG’s CEO Award, which recognizes outstanding employees who embody the organization’s core values of compassion, professionalism, and trustworthiness. She is featured in the most recent employee video series. Like other employees we have met during our meetings, Heather describes how she finds deep meaning in her work and service of Episcopal institutions.

We celebrated the Holy Eucharist at Zion Episcopal Church in Manchester, hosted by interim Pastor Ross Goodman and with the Rt. Rev. Dr. Shannon MacVean-Brown of the Episcopal Diocese of Vermont presiding. While celebrating, we had the chance to meet Zion’s Junior Warden, David Brinson, who is the subject of another video about CPG’s work and witness in the Church.

Finally, the CPF Board celebrated the 15th work anniversary of Mary Kate Wold, CPG’s Chief Executive Officer and President. Her leadership over the years has been marked by a deep commitment to the Church, thoughtful stewardship, and a clear sense of purpose and vision, which was apparent in management’s discussion of CPG’s strategic initiatives and goals. We remain grateful for her dedication and the integrity and wisdom that she continues to bring to her role every day.

I want to thank you for your support and continued trust in CPG and the CPF Board. I wish you the very best for an enjoyable and restful summer.

Faithfully,

Canon Anne Vickers (retired)  
Chair, The Church Pension Fund Board of Trustees

View past editions of  A Message from the Chair.

The next meeting of the CPF Board will be from September 16 to 18, 2026.

¹Given uncertain financial markets and their impact on assets, CPF has reserved the right, in its discretion, to change or discontinue providing a Medicare Supplement subsidy.