pensions

The Board of Pensions of the Presbyterian Church (U.S.A.) operates as an agency dedicated to providing comprehensive benefits and retirement plans to the Presbyterian Church (U.S.A.) community and its affiliated employers. The organization's mission centers on serving employers and employees with hospitality, excellence, and grace, fostering a culture of hope and belonging. They aim to support holistic well-being through their benefits and programming, reflecting a commitment to ensuring all people flourish, underpinned by faithful stewardship and accountability.

Established in 1717 with the Fund for Pious Uses in Philadelphia, the Board of Pensions has a long history of caring for ministers and their families, expanding its services over centuries. Today, the Board serves approximately 65,000 individuals, including congregational pastoral leaders, employees, retirees, and their family members, through its Benefits Plan. The offerings encompass a broad spectrum of benefits, such as medical, dental, vision, retirement, death, and disability plans, alongside tax-advantaged accounts. Beyond traditional benefits, the Board provides programs like Call to Health, Lifelong Learning, and CREDO, which focus on spiritual, health, financial, and vocational aspects of wholeness.

As a significant institutional investor, the Board of Pensions manages a substantial portfolio. Its Balanced Investment Portfolio, which funds the Defined Benefit Pension Plan, Financial Protection Programs, Endowment Fund, and Assistance Program assets, had a market value of $11.6 billion as of May 31, 2024. The organization emphasizes responsible investing, offering options such as socially responsible funds and a fossil fuel-free global fund within its Retirement Savings Plan. This approach aligns with their broader commitment to environmental stewardship and ethical practices in their financial management.

The Board is governed by a Board of Directors and an Executive Team, led by the President, who oversee business strategy and daily operations. They are committed to diversity, equity, and inclusion, actively working to dismantle structural racism and foster a workplace culture that inspires a sense of belonging. The organization's leadership is dedicated to transparency and accountability, regularly publishing audited financial statements and annual reports.