The ELCA Board of Pensions plans to reopen its Participating Annuity Fund to new entrants this year. John G. Kapanke, president of the pension board, made the announcement during its trustees meeting March 10-13 in Chicago.
In 2009, the Board of Pensions closed its Participating Annuity and Bridge Fund to new entrants because of the plunge in global financial markets. The bridge component of the fund won't be reopened, Kapanke said.
The pension board also plans to carry out "a review of the design objectives of a new internal annuity fund option," and implement an additional annuity fund option in 2012, he added.
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