(ENS) CPG’s home page features a short statement pertaining to the Clergy Pension Plan, saying that “despite recent market volatility, the Fund’s financial condition remains very strong, with assets well in excess of liabilities.”
That statement links to a second, slightly longer statement on the Clergy Pension Plan. That statement reads in full:
“In light of the recent market volatility, the Board and staff of the Church Pension Fund want to reassure participants in the Clergy Pension Plan that the Fund’s financial condition remains very strong, with assets well in excess of liabilities.
“The Clergy Pension Plan maintains substantial reserves, and the recent market volatility does not begin to call into question the soundness of the Fund. The pension benefits of the Clergy Pension Plan are fully secure.”
But can they keep Schori’s mitts off it?
The Fund, from al reports, is run by sensible and principled folks who are not the ideological nut jobs who generally inhabit 815. Nonetheless, a look-see trip across town from the AG would be helpful to Beers, et al.
I wouldn’t bet on Schori & Company not attempting to embezzle funds from the pension plan if they think they can get away with it.
These comments are out of line. Perhaps the PB can come up with some reason to deny pensions to the priests and bishops that her regime is chasing out of the denomination, but these other slurs upon her character are unworthy of those who claim to be Christians.
I agree totally with C Wingate that it is going way too far to suggest that the leadership of the church will take funds illegally. (After all, as C Wingate could well have pointed out to us in their defense, we have just had an example of the great weight and respect they accord the canons of the church.) However, if memory serves me right, I think the Church Pension Fund commissioners have already made some “grants” to the Episcopal Church.
As funds grow slim — and they will grow slim with the number of unhappy people around and with the very poor market returns affecting the Endowment funds — the pressure on the commissioners to make further “grants” will become much more intense, so I hope that they have the word “no” in their vocabulary, and not just the “yes” that they have shown to date.