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The Magazine of The Evangelical Lutheran Church in America

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Pension board budget increase reflects system changes

Trustees of the ELCA Board of Pensions approved a $54.2 million budget for 2002 at their Nov. 2-4 meeting in Minneapolis. This represents an increase of 11.5 percent over 2001 and includes operating and investment expenses.

The trustees also expressed support for the 2003 and 2004 budget projections, knowing changes will occur once the board finalizes its three-year strategic plan for 2003 and beyond. Trustees will review the new strategic plan in March 2002, approving a final draft in August.

The board is in the midst of a multiyear changeover from handling health-care claims and pension transactions to serving as an advocate and resource for members' health-care and pension needs. In 2001 the board moved its remaining health-care claims processing to outside vendors.




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