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.

Fall 2025

Dear Friends:

Earlier this month, the Board of Trustees of The Church Pension Fund (CPF) convened to review CPF's financial strength and receive updates on its three lines of business (collectively, the Church Pension Group or CPG). We also discussed CPG’s strategic plans for the future.  

We were pleased to welcome Thomas Jones, a seasoned financial services executive elected at our last meeting. He will complete the term of the late Very Rev. Sandye A. Wilson and is eligible to stand for nomination and re-election at the next General Convention. 

The Board received updates on CPG’s annual stress testing. The organization uses sophisticated modeling (asset and liability stochastic forecasting) to assess the long-term sustainability of its pension funds. This modeling simulates 10,000 versions of the future to estimate how the investments (assets) and pension obligations (liabilities) might change over time, so that the analysis does not rely on just one forecast. This work reveals that The Church Pension Fund Clergy Pension Plan and The Episcopal Church Lay Employees’ Retirement Plan are in strong financial positions but require ongoing caution and disciplined oversight.  

We also received an update on the Quantum Health transition and CPG’s collaboration with Quantum Health and AmeriBen to reprocess all outstanding out-of-network (OON) claims and improve claims processing efficiency going forward. We are pleased to report that nearly all known outstanding OON claims have been reprocessed, and payments have been made. Additionally, later this fall, a comprehensive audit of all claims—both in-network and out-of-network—will be conducted to identify and correct any remaining issues. 

CPG’s leadership team engaged the Board in a thoughtful discussion on strategic planning and shared the organization’s areas of focus for 2026. Our discussion considered enterprise risks inherent in CPG’s work. We were encouraged by the leadership team’s commitment to identifying and mitigating risks so that their work supporting the Church continues uninterrupted.  

As we do at every meeting, we spent time ensuring all voices at the table are heard, and we believe driving such inclusion makes us stronger and more effective in our work. We all enjoyed meeting leaders from across CPG who joined us for dinner. Their stories and CPG’s strong commitment to inclusion are among the many reasons we are proud to serve this organization and the Church through our work on the CPF Board. 

Faithfully,

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

The next meeting of the CPF Board will be December 10–12, 2025.

Browse past issues of A Message from the Chair in our Newsletter Library.