Board of Pensions trustees
Minneapolis, Nov. 4-6
• Discussed its focus on interdependency in the ELCA and the board’s role as an ELCA unit to manage the health and retirement plans for members and to make responsible investments.
• Approved the 2006 corporate plan and a budget of $64.3 million. That amount includes $44.3 million for administrative expenses (a 2.25 percent increase over 2005) and $19.9 million for investment expenses.
• Set interest crediting rates for the Bond Annuitant Fund at 4.9 percent and for the Balanced Annuitant Fund and Participating Annuity Bridge Fund at 6.2 percent for 2006.
• Heard that the Annuity Bridge Fund enrollment age has been lowered to 55 for 2006.
• Learned that the board has a new behavioral health vendor for 2006 (CIGNA).
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