Three of Four Conference Board of Pension and Health Benefits recommendations accepted at AC2020
October 3, 2020 / By Tara Barnes
The Conference Board of Pensions and Health Benefits report and recommendations were presented by chair Mary Rublee and Susan Latessa, Conference Director of Human Resources and Benefits. The board brought four recommendations, three of which can be found in Journal pages 97-98 and the other in updates to the journal.
The first recommendation was for acceptance of the 2021 housing/rental exclusion resolution designating 100 percent of United Methodist pension, severanc or disability income as housing exclusion, in accordance with IRS Code section 107, from January 1, 2021 through December 31, 2021.
The second recommendation was for the 2021 past service annuity rate for the pre-82 pension plan remain the same as for 2019 at $645. The Rev. Alan Kinney made a motion to refer recommendation 2 back to committee to consider an increase based on increase in cost of living. This motion was not supported. The recommendation was supported.
The third recommendation was to reduce the health reimbursement account for retiree spouses by 50 percent. Kinney made a motion to refer this to the Board of Pensions and Health and Conference Committee on Finance and Administration to reassess the benefits reductions and find more just ways save money. This referral was supported.
The fourth recommendation was for acceptance of the 2021 Comprehensive Benefit Budget Plan. This was supported.
The report highlighting the board’s work, including a move in January 2021 from the traditional HealthFlex plan with Wespath to Wespath’s HealthFlex Exchange, the continuance of “small employer exception” Medicare rules, and the focus of the investment subcommittee, was accepted.