BBT Board Responds to Pension Plan Members

Over the years members of the Brethren Pension Plan asked, "Why can't we leave some of our funds invested in the Pension Plan when we retire? Investment returns are good, and the investments uphold our values." A July action of the BBT board now makes that possible!

This is how it works: Most retiring members have an employee account and an employer account. Before the change, members could:

1. Use both accounts to fund a lifetime annuity or
2. Use their employer account to fund the annuity and roll over or transfer the money in their employee account to fund an IRA, where their investment could continue to grow.

In July the Board added a third choice. With the change, members are still required to use their employer account to fund their annuity, but they may use their employee account in one of three ways:

1. They may add it to the employer account to fund a larger annuity,
2. They may transfer or roll the money to fund an IRA or
3. NEW: They may leave the money in the Brethren Benefit Trust investment program where it can continue to grow.

This new option also allows retired members who have Pension Plan funds invested in an IRA to roll their funds back (with some restrictions) into the Pension Plan if they choose.

Call Donald Fecher, Director, Pension and Employees' Financial Services, at 800-746-1505 for more information.