Brethren Benefit Trust Board adopts five-year strategic plan.
With eyes firmly fixed on the future, the Brethren Benefit Trust (BBT) Board of Directors has affirmed its blueprint for operations over the next five years, according to a release from the agency. Meeting April 17-18 at the Church of the Brethren General Offices in Elgin, Ill., the board approved a strategic plan that includes initiatives pertaining to the Brethren Pension Plan, Brethren Medical Plan, Church of the Brethren Credit Union, and Brethren Foundation, as well as overall marketing efforts.
"After 18 months of study, research, and discussion that led to the creation of this plan, we believe these strategic issues will guide a majority of BBT's work for the years to come," said Wil Nolen, BBT president. "We're excited about what the future holds for BBT."
The strategic plan focus on the Pension Plan calls for the board's Investment Committee and staff to improve the method of funding retirement benefits to reduce the possibility of future unfunded liabilities. The board began addressing this issue one year ago when it approved the creation of "A" accounts for contributions before July 1, 2003, and "B" accounts for contributions on or after that date.
The major strategic initiative for the Brethren Medical Plan is a continuing effort to locate and implement reasonable coverage for members at affordable premiums. Inflationary trends and unfavorable claims experience make it a major challenge to provide a good benefit plan at a reasonable cost.
On April 1 BBT fulfilled a strategic plan goal of sponsoring a denominational credit union by assuming all administrative functions of the Church of the Brethren Credit Union (CoBCU), which until mid-February was the Brethren Employees' Credit Union. Staff members reported that they have begun a review of operating policies and procedures and are exploring the development of new products and services. Dennis Kingery, director of Credit Union Operations, supervised relocation of the credit union offices to BBT and the launching of a new "look" complete with new logo, brochure, forms, and website. The board also affirmed the creation of a Credit Union Service Organization (CUSO) as another strategic priority. A CUSO typically offers an expanded range of financial services to members of a credit union, although it is a separate organization.
Under the umbrella of the Brethren Foundation, the board included a strategic priority to support church agencies and related organizations in the development of their own deferred giving programs. This will support primarily those agencies with insufficient staff to implement such a program on their own. The Brethren Foundation will prepare educational articles, provide descriptive materials, consult with potential donors, and administer gifts that come to client organizations.
The final component of the strategic plan contemplates the development of a consistent marketing identity for the wide range of ministries provided by BBT.
In other business, BBT's long-term care insurance has been the topic of several employee educational seminars. Following numerous inquiries for specific information, about 20 individuals have policies either in force or under way. The board also received reports on preparations for the 2004 Annual Conference, the work of the InterAgency Forum, issues before the executives of denominational agencies, the content of the denomination's ecclesiology consultation, and matters that have come before the Church Benefits Association.
In the last in his series of visits to board meetings of the five Annual Conference agencies, Conference moderator Chris Bowman opened the meeting with a meditation and prayer. Board members expressed appreciation for Bowman's presence.
Future BBT board meetings are scheduled for July 6 in Charleston, W.Va., and Nov. 19-20 in Northern Indiana District.
Source:
Newsline 5/7/2004
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