iab-728x90

The Magazine of The Evangelical Lutheran Church in America

iab-728x90

WCC finances shaping up

The World Council of Churches, a Geneva-based ecumenical group to which the ELCA belongs, reported that its pension fund is now "out of a deficit position," thanks to a $24 million bank loan.

Leaders attributed the deficit to the financial crisis and a growing imbalance between retirees (70 percent) and active members (30 percent) who contribute to the fund's balance.

Olav Fykse Tveit, WCC general secretary, said the organization hopes to leverage Geneva real estate it owns.


Comments



Print subscribers and supporting Web members may comment.

Log in or Subscribe to comment.

text size:

this page: email | print

iab-728x90
November issue

NOVEMBER issue:

The ELCA's aging clergy wave

More...