Special Apportionment Effective July 1, 2008
At it’s February 28-29, 2008 meeting, the Board of Directors of the Pension Fund of the
Christian Church approved a 3% Special Apportionment. Those persons receiving retirement
or surviving spouse pensions will receive checks/deposits reflecting the increase beginning
July 1, 2008. Active members who are accumulating pension credits will have their credits as of
December 31, 2007 increased by a 3% Special Apportionment on July 1, 2008.
Special Apportionments are fully-funded on an actuarial basis. All previous Special Apportionments are included in the base for calculating this latest increase. Over the past ten years, Special Apportionments have averaged 5.46% per year. Based upon that annual average, a pensioner who began receiving a benefit of $1,000 per month ten years ago will receive a pension of $1,702.08 per month effective July 1, 2008. The Special Apportionment will also apply to Additional Benefit Annuities.