Christian Church(Disciples of Christ)
Christian Church
(Disciples of Christ)
Contact: news@cm.disciples.org
INDIANAPOLIS (DNS) -- The largest "special apportionment" in the history of the Pension Fund of the Christian Church (Disciples of Christ) recently was approved by the fund's board of directors. The 13 percent increase in retirement, surviving spouse and disability pensions will be effective July 1. Persons not yet retired who are accumulating pension credits will receive a credit increase based on their Dec. 31, 1995, balance. The Rev. Lester D. Palmer, president of the Pension Fund, said the board of directors has approved special apportionments 22 of the past 24 years. These increases are based on the investment and operational experience of the fund. On a compounded basis, pensions and pension credits have been increased by 293.51 percent since 1973. The Rev. Dwight L. French, Sunset Beach, N.C., chair of the Pension Fund board, said pension plan members and beneficiaries will receive their personalized pension credit and pension reports in March. These will give the exact dollar amounts added to each person's account. The board also approved a 13 percent special apportionment for persons receiving Additional Benefit annuities, effective July 1. An 8.305 percent "good experience credit" was approved for Additional Benefit accounts, bringing the yearly interest gain to 15 percent.
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