A060 Create a Task Force to Study Church's Pension System

Resolved, the House of _______ concurring, That the 79th General Convention direct the Presiding Officers of The Episcopal Church to appoint a Task Force on the Church’s Pension System consisting of three (3) bishops, three (3) presbyters or deacons, and six (6) lay persons, and that at least one (1) of the persons appointed to the Task Force be knowledgeable and experienced in the governance and structure of The Episcopal Church; at least one (1) of the persons appointed to the Task Force be knowledgeable and experienced in corporate and not for profit structures and governance; and at least one of (1) the persons appointed be knowledgeable and experienced in the law, structure, and/or governance of pension plans; and be it further

Resolved, That the Task Force be directed to study

the history of the creation of The Church Pension Fund with an emphasis on its historical relationship to The Episcopal Church and the Church’s involvement in its creation; its current structure, governance, and relationship to The Episcopal Church including but not limited to the right of the General Convention to direct The Church Pension Fund; the obligations and responsibilities of The Church Pension Fund owes The Episcopal Church; the ownership of the data provided by various persons and organizations of the Church to The Church Pension Fund in its capacity as the Recorder of Ordinations; the extent of the Church’s right to set the terms and provisions of the pension plans and other benefit programs provided by or administered by The Church Pension Fund or any of its affiliates; the authority of the General Convention to limit or expand the businesses engaged in by The Church Pension Fund or any of its affiliates including providing products or services to groups or individuals not associated with The Episcopal Church; and such other issues as the Task Force identifies during its work;

and be it further

Resolved, That the Task Force study the governing documents of The Church Pension Fund and all its affiliates, consult with the Board of Trustees and individual Trustees of The Church Pension Fund as well as its staff, consult as needed with legal, corporate, not for profit or pension experts; and be it further

Resolved, That the Task Force be directed to report to the 80th General Convention and make any recommendations it deems necessary including, but not limited to, recommendations for improving, clarifying or effecting changes in the relationship between The Church Pension Fund and The Episcopal Church; and be it further

Resolved, That the Task Force also be directed to study the current state of parity between the pensions of lay and ordained church workers, domestic and non-domestic church workers and church workers of disparate incomes with a particular focus on how those income disparities are manifest across gender and racial or ethnic lines; and to present to the 80th General Convention the specific ways in which the current pension system does and does not reflect parity across the church; and be it further

Resolved, That the Task Force be directed to seek input from the Trustees and officers of the Church Pension Group on new models for the pension system that would achieve true parity; and to present to the 80th General Convention its recommendation on the adoption of new models for the pension system that would achieve better parity; and be it further

Resolved, That the General Convention request the Joint Standing Committee on Program, Budget, and Finance to consider a budget allocation of $50,000 for the implementation of this resolution.

Explanation