August Portico Updates
Updates from Portico Benefit Services – August 2020
Two ELCA-Recommended Health Plan Options for 2021
Last summer, the 2019 Churchwide Assembly passed a resolution asking the ELCA Church Council and Portico to review the ELCA health plan recommendation in the context of a changing church and look for ways to increase flexibility. Following significant analysis, the Church Council’s recommendation will include not one, but two health benefit options for next year.
If you are a sponsoring organization or a plan member, look for more information on next year’s rate and benefit changes in mid-August.
ELCA Benefit Contribution Trust Now Adequately Funded
Reducing the cost of benefits is always welcome, especially during these tumultuous times. Portico is pleased to announce that the ELCA Benefit Contribution Trust is now adequately funded. This translates to more money available for ministry, as the contribution for retiree support has been eliminated from monthly bills.
Enhancing the ELCA Retirement Fund Line Up
Today, more than 4 out of 5 ELCA Retirement Plan members invest in balanced funds, which offer a static mix of stocks and bonds in a single diversified fund, based on desired level of risk. While balanced funds have performed well for decades, this October Portico is introducing target date funds to simplify the retirement investing experience. Want to learn more? A Portico Financial Planner can help you understand how these funds can fit your retirement goals. Call 800.922.4896.