CPF Trustees Support Early Retirement Plan
Episcopal News Service. March 7, 1997 [97-1709Y]
(ENS) The trustees of the Church Pension Fund recently voted unanimously to support a proposal to permit clergy with 30 years' credited service to retire early without a reduction in benefits for "early retirement" as long as they have the approval of the diocesan bishop. The proposal was developed by the Wellness Initiative Advisory Committee (WAC), which also recommended improved benefits for retired clergy and surviving spouses. The Rev. Donald Bitsberger, vice-chair of CPF, said substantial increases in the minimum benefits for retired clergy and surviving spouses will be announced no later than the next meeting of the board of trustees, which is scheduled for April 17. The General Convention, meeting in Philadelphia in July, will be asked to accept in principle the "30-year Early Retirement Option" as the basis for the revision and adjustment of the rules of the CPF as soon as practicable.