Saturday, December 3, 2011

A Name Change Distracts From Lower Benefits

Once again the ELCA pension fund has reduced benefits paid to the retirees.  At the very same time they are changing their name from the Board of Pensions (as they have been known).  The Board of Pensions of the Evangelical Lutheran Church in America (ELCA) will begin doing business as Portico Benefit Services, effective immediately.

Unlike our own LCMS pension system which is funded up front, the ELCA pension plan pays benefits from income and income is down -- investment and congregations leaving the ELCA.  Sadly, as is so often the case, those who have faithfully served the Lord in the past are the ones caught in the middle...  But it comes as no surprise that benefits were reduced.... again....

Their chairperson is quoted saying:  "We believe a new name will help people better understand what we do as this church's provider of health, retirement, disability and survivor benefits and related services. Though our name is changing, our connection to this church remains strong. I look to our future together with enthusiasm."
ELCA Presiding Bishop Mark S. Hanson observed that the new name is grounded "in biblical witness" and is reflective of the organization's commitment to expand and deepen its services. The word portico evokes the portico of Solomon's temple, where Jesus taught in John 10:22-28, Hanson pointed out. "It was a place of gathering and entry into God's sacred presence at the temple.  Apparently they will be gathering to lament this year... as it has been for the last several years!
The trustees reduced payments for 2012 by 3.8 percent which was less than the 9 percent reductions of the previous several years.... some consolation....


Anonymous said...

ELCA 9 Percent Reduction in 2010
9 Percent Reduction in 2011
3 Percent Reduction in 2012

Bishop Mark Hanson will have a
Golden Parachute when he retires,
and will never suffer any loss.
Yet as the General enjoys his
retirement, the foot soldiers
will endure the diminishing
returns in their retirement.

Anonymous said...

When discussing the ELCA's health benefits plan don't forget to mention that they are willing to pay for elective abortions for any reason, no questions asked, during the first five months of pregnancy. This is the true trajedy. I cannot understand why more people are not discussing this evil policy of the ELCA. It seems to me to be a far more serious problem than even the sexuality issues......when your church pays for murder!

Anonymous said...

Are the NALC and LCMC plans really any better? If not, then the incentives for ex-ELCA pastors and their congregations to join the LCMS couldn't be better!