2014 Regional Benefits Consultation

Robert W. Maggs Jr. President and Chief Executive

Focus on the Changing Church … Still

Welcome

2

The Board of Pensions

Honoring the Past, Serving in the Present, Dedicated to the Future

• Caring for those who serve the Church• Success depends on

• Design of Benefits Plan and Assistance Programs

• Personalized service to our members• Maintaining financial strength

Overall Mission

• Highly qualified workforce• Professional advisers• Up-to-date technical tools• Collegial and family-friendly workplace

Requirements

• Exclusive benefit of our members• Attention to employing organizations paying for

Benefits Plan• Plan affordability• Rapidly changing environment

Options, Actions, and Decisions

• Legal and regulatory strictures• Declining revenues• Increased operating costs• Changing social and political norms• Instant communications• Geo-political events• Volatile financial markets

Driving Change

• Determining effects of Affordable Care Act• Providing consultative services• Ensuring sufficient financial reserves• Building mutual understanding of emerging

complexities

Considerations for the Future

• Frank Spencer, President-Elect• Experienced CEO of for-profit and not-for-profit

organizations• Strong Presbyterian heritage• Ordination as a teaching elder• Former Director on our Board

Leadership Change

To be presented to the 221st GA (2014) for confirmation