Report to the House of Deputies Committee on the State of the Church
Following the 78th General Convention, the House of Deputies Committee on the State of the Church convened a Church Pension Group (CPG) subcommittee to study CPG’s preparedness for the future. Over the course of 2017, the subcommittee, which includes clergy and lay leaders from around the Church, met with CPG’s executive management team to discuss a wide range of topics and collect information. The report addresses CPG’s relationship to the Church, CPG’s pension and health benefits programs, its financial sustainability, and its investment strategy. Our work culminated in a comprehensive report that we invite you to read here.
We believe the report is equally informative to beneficiaries and administrators of our plans, and we would like everyone to have the benefit of the information in it. We appreciate the subcommittee giving us the opportunity to respond to questions that many around the Church may have.
We hope you take time to read our report, and as always, do not hesitate to contact us with any questions you might have.
House of Deputies Committee on the State of the Church Survey
Earlier this summer, CPG received phone calls and emails from concerned clergy about the survey distributed by the House of Deputies Committee on the State of the Church regarding CPF and The Episcopal Church Medical Trust (Medical Trust). The survey was designed by members of that committee to explore how CPF and the Medical Trust are serving the needs of the Episcopal Church in the twenty-first century. Although we were not at all involved in the preparation of the survey, we hope you took the opportunity to complete it, express your viewpoints, and offer your comments.
As we explained to those who called and emailed, we have not had any discussions at CPG about reducing pensions. In fact, after extensive conversations around the Church over the past several years, we have proposed revisions to The Church Pension Fund Clergy Pension Plan (Clergy Pension Plan) that will take effect in 2018. These changes are intended to increase flexibility to address changing models of ministry, drive consistency, and simplify the terms of the Clergy Pension Plan. They will have a largely positive impact on pensions. We have taken great care to ensure that accrued pensions are not reduced under the new plan.
If you have not had the opportunity to attend one of our webinars or in-person meetings to hear about the changes to the Clergy Pension Plan in detail, please visit Clergy Pension Plan Revisions to learn more. We are quite excited about these changes, which have been positively received.