WASHINGTON – Churches now have the ability to invest their staff pension plans in collective trusts. On Oct. 25, President Bush signed the Church Pension Plan Fairness Act, introduced by Rep. Judy Biggert (R-Ill.). Church pension plans have the same investment opportunities as other pension plans except that securities laws prevented them from investing through collective trusts. Collective trusts allow pension plans to pool their assets to share risk and transaction costs with other plans. “For far too long, Congress has unintentionally failed to update church pension laws, making it more difficult for clergy and other church employees to maximize their retirement savings. This law is intended to correct these inequities,” Biggert said. “Giving church pension plans the ability to invest in collective trusts will put church employees on par with other hard working Americans investing for their retirements,” said House Financial Services Committee Chairman Michael Oxley (R-Ohio). Evangelical Christian Credit Union and a number of other credit unions count churches among their member base.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.