The Board Bulletin Spring 2025
The Board Bulletin is published after each regular meeting of the Board of Directors of The Board of Pensions of the Presbyterian Church (U.S.A.) and reports information and actions taken that affect plans and programs administered by the Board of Pensions.
Balanced Investment Portfolio returns 8.8% in 2024
The Balanced Investment Portfolio is the investment fund for the Defined Benefit Pension Plan, Financial Protection Programs, Endowment Fund, and Assistance Program assets. On Dec. 31, 2024, the Balanced Investment Portfolio had a market value of $11.8 billion.
| Balanced Investment Portfolio Performance as of Dec. 31, 2024 | |||||||
|---|---|---|---|---|---|---|---|
| 1
Year | 2 Years | 3 Years | 5 Years | 10 Years | 15 Years | 20 Years | |
| Balanced Investment Portfolio | 8.8% | 10.9 | 2.8 | 7.3 | 7.3 | 8.2 | 7.0 |
| Asset Mix Policy Benchmark | 12.4% | 14.6 | 3.6 | 7.2 | 7.1 | 7.4 | 6.7 |
Directors grant experience apportionment
The Board of Directors granted a 4.6% experience apportionment for the Defined Benefit Pension Plan, effective July 1, 2025. Apportionments are tied to the plan’s overall funded status, which was 172% at year-end 2024, compared with 157% at year-end 2023. This is the 13th consecutive apportionment, yielding a cumulative increase of 53.4% since 2013.
The apportionment results in a lifelong increase in pension benefits or pension credits accrued. Apportionments are granted according to the Board of Pensions’
experience apportionment policy guidelines. They are not guaranteed to be granted each year.
Increase approved for disability benefit
The Board of Directors approved a 3% increase in the disability benefit received through the Death and Disability Plan. Those who were receiving the benefit as of Dec. 31, 2024, will receive the increase, effective July 1, 2025. Increases are intended to keep the benefit in line with the purchasing power of current recipients.
The assets and liabilities of the Death and Disability Plan are evaluated independently of the other plans administered by the Board of Pensions. The Directors approved the increase after reviewing investment and actuarial experience, reserves, and inflation.
Directors reelect officers for coming year
The Board of Directors reelected the current officers, who will serve in these positions until the conclusion of the 227th General Assembly (2026):
- S. Bradley Perkins, Chairperson
- Andrew Junkin, First Vice Chair
- Krysten Holloway, Second Vice Chair
The next meeting of the Board of Directors is scheduled for June 19-21, 2025. For further information, email the Corporate Secretary or call 215-587-7600.