A Message from the Chair

A Message from the Chair is published after each regular meeting of The Church Pension Fund (CPF) Board of Trustees. It reflects actions taken by the CPF Board that impact the products and services administered by CPF, as well as other highlights of the meeting.

Spring 2025

Dear Friends:

Earlier this month, The Church Pension Fund Board of Trustees (CPF Board) held its annual off-site meeting, which was the first with new members who were elected at the last General Convention. We used our extended time together to cover important topics like the Church Pension Group’s financial management and to reflect on longer-term strategic issues for the CPF Board. It was a productive week of learning, planning, and relationship building.

The Denominational Health Plan (DHP) continues to be a hot topic of discussion with the CPF Board as The Episcopal Church Medical Trust pursues opportunities to manage the rising cost of healthcare, provide broader access to care, and improve the efficiency and effectiveness of its operations. Church Pension Group (CPG) has received positive feedback on its swift response to components of General Convention Resolution 2024-A101. The CPF Board is grateful for the leadership of the DHP Advisory Group that largely validated our approach through a comprehensive third-party study while highlighting opportunities for further focus. We are thrilled to see the CPG team pursuing them with vigor. We also received an update on the launch of CPG’s new healthcare navigation system program with Quantum Health. After a successful launch and expected transition to this material change, we are encouraged to see a substantial portion of clients actively engaging in the program.

In other benefits news, we discussed previously approved enhancements to the International Clergy Pension Plan and changes to the Fund for Special Assistance program. These enhancements and changes make it easier for eligible retired clergy, their surviving spouses, and dependents to get extra financial assistance when specific, extraordinary needs arise. You can learn more at www.cpg.org/FSA. Finally, the CPG team provided an update on the International Employee Assistance Program, which I highlighted in my winter update.

We had a thoughtful discussion about CPG’s financial position and performance vs. budget, heard from the external and internal audit teams, and received our semiannual cybersecurity assurance briefing.

CPG’s Investment team shared comforting news about the continued strong state of CPG’s investment portfolio. Amid recent uncertainty in global financial markets, CPG’s solid approach to diversification and the level of professionalism of the Investments team give us confidence about the ongoing stability of the CPF’s pension and other programs. In addition, the organization’s commitment to its socially responsible investment strategy endures, and the CPF Board was excited to hear about recent shareholder engagement activities.

Christopher Rourke, Senior Vice President and General Manager of CPG’s Church Insurance Companies (CIC) discussed recent positive changes to CIC operations. He provided an update on the impact of Los Angeles wildfires on insured buildings in the area and CIC’s efforts to quickly fulfill related claims.

Finally, the CPF Board participated in focus groups moderated by members of CPG’s Executive Leadership Team to discuss changes we are seeing around the Church and possible impacts on CPG’s work. Our views will be included in CPG’s three-year effort to look into the future and consider the ways the organization might evolve to meet future needs in a vision-relevant way. As you may know, CPG is constantly evaluating and responding to client needs. However, this three-year strategic initiative will be a deeper dive into understanding future client needs and opportunities, in the context of an evolving Church, and we will be leveraging insights from around the Church in our work.

I want to thank you for your continued trust in CPG and the CPF Board, and I wish you a blessed Lent and a joyous Easter season.

Faithfully,

Canon Anne Vickers (retired)  
Chair, The Church Pension Fund Board of Trustees

The next meeting of the CPF Board will be June 11 to 13, 2025.

Browse past issues of A Message from the Chair in our Newsletter Library.