Guide to the Presbyterian Church in the U.S.A. Special Committee on the Board of Pensions Records

The Special Committee on the Board of Pensions originated in 1940, at the 152nd General Assembly. It was established to study the pension system of the Presbyterian Church, to investigate teh system's financial conditions, and to present its findings to the next General Assembly. At the next meeting, the report was delivered jointly to the Board of Pensions and the Special Committee. Both governing agencies were empowered to act in collaboration on all administrative recommendations and instructed to report its recommendations on the revision and amendment of the Service Pension Plan to the 154th General Assembly (1942). Pension Plan IV received a majority vote at the Assembly, but additional plans were suggested and taken up for further study. The Special Committee, which consisted of three members, was assigned the task of polling various churches on this issue.

In November, 1943, the Special Committee underwent a fundamental transformation. Five laymen were authorized to review the existent pension plan and submit their opinions at the upcoming Assembly. The Committee commented favorably on the Board of Pensions handling of the investment portfolio and attributed past shortfall earnings to an unstable economy and extended longevity of the recipients. In 1948, the Special Committee delivered its final report, a five-year reserves plan, whereupon it was dissolved as a functioning body.